A)
outsourcing
B)
marketing
C)
positioning
D)
production
E)
logistics
Page Ref: 30
AACSB:
Skill: Concept
Objective: 1-2
Difficulty: Easy
14.
The art and science of choosing target markets and building profitable relationships with them is called ________.
A)
marketing management
B)
positioning
C)
marketing mix
D)
differentiation
E)
market offering
Page Ref: 30
AACSB:
Skill: Concept
Objective: 1-3
Difficulty: Easy
15.
Selecting which segments of a population to serve is called ________.
A)
market segmentation
B)
positioning
C)
target marketing
D)
differentiation
E)
customization
Page Ref: 31
AACSB:
Skill: Concept
Objective: 1-3
Difficulty: Easy
16.
Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?
A)
value proposition
B)
a cartel
C)
market segmentation
D)
customer lock-in
E)
marketing mix
Page Ref: 31
AACSB:
Skill: Concept
Objective: 1-3
Difficulty: Easy
17.
Which of the following customer questions is answered by a company's value proposition?
A)
"Why should I buy your brand rather than a competitor's?"
B)
"What is your company's estimated customer equity?"
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