Marketing Module 1 Exam

Marketing is primarily concerned with engaging customers and secondarily with managing profitable customer relationships.

False

________ marketing is perhaps the fastest-growing marketing platform.

Mobile

________ are defined as states of felt deprivation.

Needs

Product, price, place, and promotion make up the elements of a firm's marketing mix.

True

The final step in the marketing process is ________.

capturing value from customers

Consumers' needs and wants are fulfilled through ________.

market offerings

Dividing a market into several sections of customers is known as ________.

market segmentation

According to the five-step model of the marketing process, the first step in marketing is ________.

understanding the marketplace and customer needs and wants

Marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on ________.

consumers' existing wants

The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is referred to as ________.

customer relationship management