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Principles of Marketing 15th Global Edition by Gary Armstrong Test bank

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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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