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Term · 1) ________ is defined as a social an · managerial process by which individu · and organizations obtain what they n · and want through creating and
exchanging value with others.
Marketing · Term · 2) The first step in the marketing · Understanding the marketplace an customer needs and wants · Term · 3) ________ are states of felt deprivat · Needs · Term · 4) ________ are human needs as shape · individual personality and culture · Wants · Term · 5) When backed by buying power, wa
become ________.
Demands · Term · 6) Abel now has the buying power t · purchase the computer that he wanted · the last six months. Abel's want has n
become a(n) ________.
Demand · Term · 7) ________ refers to the mistake of · paying more attention to the specific · products a company offers than to the · benefits and experiences produced by
these products.
Marketing myopia · Term · 8) The art and science of choosing tar · markets and building profitable · relationships with them is called · Marketing Management · Term · 9) Selecting particular segments of · population of customers to serve is ca · target marketing · Term · 10) The BakeWay Bite is a popular co · sandwich marketed by the Posco Divi · of Home Foods. It is famous for its w · cream-filled center. Home Foods crea · a different version of these biscuits f · consumers in Germany. To appeal · German consumers, Home Food crea · dark chocolate filling for the same coo · sandwiches. This is an example of · Target marketing · Term · 11) A brand's ________ is the set o · benefits or values it promises to delive
consumers to satisfy their needs.
value Proposition · Term · the production concept · 12) Which of the following marketing · management concepts is most likely to
lead to marketing myopia?
Term
13) The production concept holds th
consumers will favor products that o the most in quality, performance, an innovative features
Term · 14) Henry Ford's philosophy was t · perfect the Model-T so that its cost co · be reduced further for increased consu · affordability. This reflects the ______ · production concept · Term · 15) According to the product concep
company should ________.
devote its energy to making continuo product improvements · Term · 16) The selling concept holds that
consumers will not buy enough of th firm's products unless the firm undert a large-scale selling and promotion ef
Term · 17) Which of the following reflect · the marketing concept philosophy
We don't have a marketing departme we have a customer department
Term · 18) The ________ concept holds · that achieving organizational · goals depends on knowing the needs · wants of target markets and deliveri · the desired satisfactions better than
competitors do.
