Answered: 56. A term used by marketers in…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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56. A term used by marketers in referring to the various factors and potent players that make an
impact on the ability of the company to establish and sustain a profitable relationship with
its target customers.
a. Macroenvironment
57. Comprise of individuals or institutions that provide resources necessary for the company.
a. Macroenvironment
58. These factors can force or restrain different groups or individuals in the given society.
a. political factors
59. These are natural resources that are needed as inputs by marketers or that are affected by
marketing activities.
a. Natural factors
60. Systematic design, collection, analysis, and reporting of data to specific marketing situation
facing an organization.
a. descriptive research
b. Microenvironment
c. marketing environment
b. Supplier environment
C. marketing intermediaries
b. economic factors
uan c. cultural factors
b. Technological factors c. Demographic factors
b. strategic research
c. marketing research
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Transcribed Image Text:ds. 42. This concept refers to the idea that people will buy more goods and services through personal is? ering value efit the c. Production Concept a. Marketing Concept n organizational function and a set of processes for creating, communicating, and delivering lue to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. a. Marketing b. Sales Concept 43. An gh va b. Production c. Sales 44. It views that organizations must satisfy the needs of consumers in a manner that gives for society's benefit. a. Marketing Concept c. Production Concept b. Sales Concept marketing will contribute to the business in key areas of growing sales, communicating with a. Goale audience and saving money. 46. It involves creating, maintaining and enhancing strong relationships with customers and - 45. Top-level broad goals to show how the business can benefit from channels. They describe how b. Objectives c. None of the choices other stakeholders. Increasingly, marketing is moving away from a focus on individual transactions and towards a focus on building value-laden relationships and marketing networks. Word-of-mouth Marketing a. b. Customer -oriented Marketing c. Relationship Marketing and loyalty go hand in hand, and it is super beneficial for all business. It will help - 47. Trust and prevent customers from turning to competitors. a. Prevents negative transition Identification with the company b. c. Reactive response 48. The salesperson sells the product and encourages the customer to call whenever he or she has any questions or problems. a. Prevents negative transition b. Identification with the company c. Reactive response 49. It is the development of an ongoing connection between a company and its customers. The relationship involves marketing communications, sales support, technical assistance and customer service. a. Word-of-mouth Marketing b. Customer Relationship c. Relationship Marketing 50. The benefits are reaped both by the company and the customers. It helps customers identify more with the company. Keeping your communication lines open and keeping in touch with the customers makes them feel like they are being valued. It will keep customers coming in and build brand equity for the company in the long run. a. Prevents negative transition b. Identification with the company c. Reactive response is your purpose; it's the offering 51. It is shaped by your business strategy, your you deliver, how you will deliver it and why your marketing efforts will help you achieve your company's mission and strategic goals. Once you have your strategy, only then will you be able to develop an effective marketing plan. c. Strategic Planning is the execution; the roadmap of tactical marketing b. Marketing Plan a. Marketing Strategy 52. Driven by your strategy, your efforts that help you achieve your marketing goals. Your plan is your detailed campaign of what you will do, where you will do it, when you will implement, and how you will track success. b. Marketing Plan c. Strategic Planning a. Marketing Strategy 53. It is a broad process that can address the entire business, or a portion of the business such as marketing planning. a. Marketing Strategy c. Strategic Planning b. Marketing Plan _54. The strategic plan involves adapting the firm to take advantage of opportunities in its constantly changing environment. It is the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities. a. Marketing Strategy 55. It is the process of predicting future events and conditions and of determining the best way to attain the goals and objectives of the organization? a. Marketing Strategy b. Marketing Plan c. None of the choices b. Marketing Plan c. Planning

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