MKTG 2500 MIDTERM - JOAN ATKIN EXAM QUESTIONS AND ANSWERS
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Course
MKTG 2500
Institution
MKTG 2500
MKTG 2500 MIDTERM - JOAN ATKIN EXAM QUESTIONS AND ANSWERS
Step One of Marketing process
understand the marketplace and customer needs and wants
Step Two of Marketing process
Design a customer value-driven marketing strategy
Step Three of Marketing process
Construct an Integrated marketing p...
understand the marketplace and customer needs and wants
Step Two of Marketing process
Design a customer value-driven marketing strategy
Step Three of Marketing process
Construct an Integrated marketing program that delivers superior value
Step Four of Marketing process
Engage customers, build profitable relationships, and create customer delight
Step Five of Marketing process
Capture value from customers to create profits and customer equity
Marketing
the process by which companies create value for customers and build strong customer
relationships in order to capture value from customers in return
Marketing management
is the art and science of choosing target markets and building profitable relationships
with them.
The marketing process captures value from customers by...
creating profits and customer equity
, The marketing process consists of five key steps. In the final step of the five-step
process, the company reaps the rewards of strong customer relationships by...
capturing value from customers
Which of the following represent market offerings?
Products, services, information, and experiences
Understanding wants, needs, and demands helps companies to design want-
satisfying market offerings and build value-laden customer relationships by
which they can capture...
customer lifetime value and greater share of customer
Increased long-term customer equity is the result of
capturing customer lifetime value and a greater share of customers
The 5 core marketplace concepts are
needs, wants, and demands; market offerings (products, services, and experiences);
value and satisfaction; exchange and relationships; and markets
The first four steps of the marketing process focus on creating value for
customers. The next step is designing a...
Customer value-driven market strategy
Marketing management can adopt one of five competing market orientations,
which include...
the production concept, the product concept, the selling concept, the marketing concept,
and the societal marketing concept
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