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BUSML 3250 Exam 1 Questions and Answers Latest Update
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BUSML 3250 Exam 1 Questions and Answers Latest Update
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BUSML 3250 Exam 1 Questions andAnswers Latest Update
In addition to selling food, drink, and a variety of items that feature its popular logo,
Eskimo Joe's offers its customers a valuable experience, known as its
______________.
A.
Needs
B.
Market offering
C.
Demands
D.
Wants
E.
Marketing myopia - Answer-market offering
The owners of Eskimo Joe's understand the customers' needs and wants by sensing
and responding to those needs, indicating that Eskimo Joe's assumes which
philosophy?
A.
Target marketing concept
B.
Marketing concept
C.
Product concept
D.
Production concept
E.
Selling concept - Answer-marketing concept
Eskimo Joe's food, logo products, and overall experience keeps customers loyal and
coming back time and time again. Such customer loyalty increases
__________________.
A.
Market offerings
B.
Customer lifetime value
C.
Partner relationship management
D.
Marketing myopia
E.
Sustainable marketing - Answer-customer lifetime value
,Eskimo Joe's offers food, spirits, and logo merchandise to customers, who in turn, offer
Eskimo Joe's money. What is this relationship known as?
A.
Customer equity
B.
Exchange
C.
Marketing management
D.
Shared value
E.
Marketing - Answer-exchange
Eskimo Joe's is an important part of the community, including customers' lives and
customer involvement, which indicates Eskimo Joe's is involved in
_________________.
A.
Exchange
B.
Customer engagement marketing
C.
Promotion
D.
Customer satisfaction
E.
Marketing myopia - Answer-customer engagement marketing
The key element of successful marketing today is to __________.
A.
create value
B.
run frequent promotions
C.
offer low prices
D.
advertise on television
E.
develop one-of-a-kind products - Answer-create value
In today's global environment, everything and everyone are digitally connected to
everything and everyone else. The term used to describe this is __________.
A.
digital media
B.
mobile marketing
,C.
the World Wide Web
D.
social media
E.
the Internet of Things - Answer-the internet of Things
Market offerings include ________.
A.
products, services, and experiences
B.
products, services, and exchanges
C.
needs, wants, and demands
D.
demands, exchanges, and relationships
E.
value, satisfaction, and markets - Answer-products, services, and experiences
The first step to a successful value-driven marketing strategy is to determine whom to
serve with a market offering. To make this decision, marketers engage in which two
activities?
A.
Customer management and demand management
B.
Segmenting and targeting
C.
Segmenting and positioning
D.
Segmenting and demand management
E.
Targeting and positioning - Answer-segmenting and targeting
To create and capture customer value, companies must engage the first step of the
marketing process, which is __________.
A.
design a customer value-driven marketing strategy
B.
create customer delight
C.
build profitable customer relationships
D.
understand the marketplace and customer needs and wants
E.
construct an integrated marketing program - Answer-understand the marketplace and
customer needs and wants
, What is the purpose of a value proposition?
A.
To differentiate and position a market offering in the marketplace
B.
To determine the prices a company will charge for its products
C.
To determine whom a company will serve with its market offerings.
D.
To define the target market
E.
To balance customer management with demand management - Answer-To differentiate
and position a market offering in the marketplace
What is the purpose of a value proposition?
A.
To differentiate and position a market offering in the marketplace
B.
To determine the prices a company will charge for its products
C.
To determine whom a company will serve with its market offerings.
D.
To define the target market
E.
To balance customer management with demand management - Answer-To differentiate
and position a market offering in the marketplace
Marketing was once understood in the sense of making a sale. Today, marketing is
understood in the new sense of __________.
A.
satisfying customer needs
B.
telling customers what they need
C.
eliminating promotion
D.
developing innovative products.
E.
not engaging customers - Answer-satisfying customer needs
You are thirsty and decide to have an iced tea. Your thirst is a ________ and your
choice of iced tea is a ________.
A.
need; demand
B.
want; need
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