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3. Marketers often use the term ________ to cover various groupings of customers.
a. people
b. buying power
c. demographic segment
d. social class position
e. market
4. ________ are basic human requirements; ________ are the ways in which we
satisfy those requirements, and they are shaped by our society.
a. Wants; needs
b. Demands; wants
c. Needs; wants
d. Needs; demands
e. Demands; needs
5. The identification and profiling of distinct groups of buyers who might prefer or
require varying product and service mixes is known as ________.
a. segmentation
b. integration
c. disintermediation
d. targeting
e. partner relationship management
6. Companies address needs by putting forth a(n) ________, a set of benefits that
they offer to customers to satisfy their needs.
a. brand
b. value proposition
c. offering
d. target market
e. demand
7. During market segmentation analysis, the marketer identifies which segments
present the greatest opportunity. These segments are called ________.
a. target markets
b. primary markets
c. tertiary markets
d. demographic markets
e. focused markets
10. ________ includes all the actual and potential rival offerings and substitutes that a
buyer might consider.
a. Competition
b. The product offering
c. A value proposition
d. The supply chain
e. The marketing environment
11. One traditional depiction of marketing activities is in terms of the marketing mix
or four Ps. The four Ps are characterized as being ________.
a. product, positioning, place, and price
b. product, production, price, and place
c. promotion, place, positioning, and price
d. place, promotion, production, and positioning
e. product, price, promotion, and place
12. From a buyer’s point of view, each marketing tool is designed to deliver a
customer benefit. The SIVA customer-centric breakdown of marketing activities
includes ________.
a. sale, interaction, voice, and availability
b. solution, information, value, and access
c. satisfaction, intention, value, and account
d. situation, importance, variability, and awareness
e. none of the above.
13. The task of any business is to deliver ________ at a profit.
a. customer needs
b. products
c. customer value
d. products and services
e. improved quality.
14. The first phase of the value creation and delivery sequence is ________ that
represents the “homework” marketing must do before any product exists.
a. choosing the value
b. market research
c. target marketing
d. service consideration
e. projective thinking.
15. With the rapidly changing global picture, the firm must monitor six major forces.
All of the following would be among those forces EXCEPT ________.
a. demographic
b. economic
c. social-cultural
d. natural
e. promotional.
17. A ________ consists of a group of customers who share a similar set of needs and
wants.
a. market target
b. market group
c. market slice
d. market segment
e. market level.
18. The five product levels constitute a ________. At each level more customer value
is added.
a. customer-augmented product
b. customer consumption system
c. customer value-hierarchy
d. customer-perceived value
e. customer hierarchy.
19. Traditionally, ________ has operated as the major determinant of buyer choice.
a. promotion
b. packaging
c. placement
d. distribution
e. price.
True/False