Exam 1: Marketing: Creating and Capturing Customer Value

________ is the act of obtaining a desired object from someone by offering something in return.

New communication technologies create challenges as well as advantages for marketers.

Lenovo computers dominate the Chinese market through low labour costs,high production efficiency and mass distribution.This is most indicative of the ________ concept.

Market offerings are limited to physical products.

The production concept and product concept are orientations that can lead to marketing myopia.

The societal marketing concept calls on marketers to balance consumer wants and desires,company profits and society's interest.

The key to developing a(n)________ system is to identify a group of indicators that aid in managing the business and enable accurate cash flow predictions into the future.

A market offering is called a(n)________,defined as 'some combination of goods,services and experiences that can be offered to a market to satisfy a need or a want'.

The twofold goal of marketing is to attract new customers by promising reasonable value and to keep current customers by delivering products and services.

Which of the following is an example of a type of market offering?

Amy's law office has developed a new format and wording for wills.Staff believe that they offer superior quality,performance and innovative features.Her law office is practicing the production concept.

Marketing is an activity,set of institutions and processes for creating,communicating,delivering and exchanging offerings to customers,clients,partners and society at large while ensuring long-term __________ for the firm.

Human needs are shaped by culture and individual personality.

The text classifies customers into four relationship groups,according to the customers' profitability and projected loyalty.________ are the customers with the highest profit potential and strong loyalty.

The Internet is forcing companies toward more standardized international pricing.

International marketing is being greatly impacted by new technologies.

In the contemporary environment,many companies find that they are competing for shares of flat or fading markets,and as a consequence must work to retain existing customers.Which of the following factors does NOT explain the intense competition for share of market?

The elements of the extended marketing mix are price,place,promotion and product.

The social-responsibility and environmental movements are expected to ________ in the future.

Global companies recruit management from many countries,buy components and supplies where they cost the least,and invest where the expected returns are greatest.