Marketing Chapters Quiz 1

Question 1

Marketing Process Step 1

Answer 1

Understand the marketplace and customer wants and needs

Question 2

Marketing Process Step 2

Answer 2

Design a customer-driven marketing strategy

Question 3

Marketing Process Step 3

Answer 3

Construct an integrated marketing program that delivers superior value

Question 4

Marketing Process Step 4

Answer 4

Build profitable relationships and create customer delight

Question 5

Marketing Process Step 5 (Final Step/Desired Result of the Marketing Process)

Answer 5

Capture value from customers to create profits and customer equity

Question 6

Marketing myopia

Answer 6

mistake of paying more attention
to the specific products a company offers than to the
benefits & experiences produced by these products.

Question 7

Market segmentation and target marketing definition (two-step process)

Answer 7

Market segmentation = dividing the markets into segments
of customers
• Target marketing = which segments to go after

Question 8

Marketing Mix (just list four P’s)

Answer 8

product, price, promotion, and place.

Question 9

integrated marketing program

Answer 9

a comprehensive plan that communicates and delivers

the intended value to chosen customers

Question 10

Customer-perceived Value

Answer 10

The difference between total
customer perceived benefits &
customer cost, relative to those
of competing offers.

Question 11

Customer Equity

Answer 11

the total combined customer
lifetime values of all of the
company’s customers.

Question 12

Marketing Analysis – SWOT Analysis (just list four initials)

Answer 12

Strengths
Weaknesses
Opportunities
Threats

Question 13

STDP process (list the four initials as they correspond to the process order)

Answer 13

Segmentation
Targeting
Differentiation
Positioning