Marketing Quiz Questions/answers Already Passed

A firm that wants to develop a deeper understanding of its customers may optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups. This is _____: {Ans: customer relationship management}Marketers need a thorough understanding of the laws established by the federal government, state governments, and regulatory agencies. {Ans: true}_____ is defined as the relationship between benefits and the sacrifice necessary to obtain those benefits. {Ans: customer value}The external environment: {Ans: must continually be monitored by marketing managers}A company that wants to implement a market orientation would need to: a) establish and maintain mutually satisfying relationships with customers. b) determine how to deliver superior customer value. c) do research on its customers, competitors, and markets. d) implement actions that provide value to customers. e) all over the above {Ans: E}Which marketing management philosophy focuses on the question, "What do customers want and need?" {Ans: market}Coca-Cola vending machines are found all over the world. The newest machines have an interactive screen that runs advertisements and allows users to obtain free photos of themselves and ringtones after they have bought a drink. Critics of these new vending machines are concerned that entertaining