According to the five step model of the marketing process, which of the followingis the final step in creating value for customers?O a. Building profitable relationship and creating customer delightO b.Constructing an integrated marketing program that delivers superiorvalueO c.Understanding the marketplace and customer needsO d. Capturing value from customers to create profit and customer equityWhen the company focuses on constantly improving the product, this is anexample ofO a. integrated marketing programO b.market offeringO c.marketing myopiaO d. product conceptSwatch watch, chocolate and fitness equipment are.O a. ServiceO b. Needso c. MyopiaOd. Wants

Marketing Process is consolidated process which consists of various steps taken by an organization:-…

Answered: According to the five step model of the…

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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Which of the following statements is not correct about pricing and prices? Select one: O a. It is the sum of all the values that customers sacrifice to get benefits of having a product. O b. It is the amount of money charged for a product or a service. O c.It is the only element in the marketing mix that produces revenue; all other elements represent cost. O d. It is one of the least important elements that determine a firm's market share and profitability.
Value creation is the central activity of marketing. Which is not a benefitto the firm from engaging in value creation and the ongoing process ofidentifying value-adding options for consumers? a. The firm is able to satisfy consumer needs. b. The firm is able to expand. c. The firm is able to build brand loyalty. d. The firm is able to sell fewer products. e. All of these are benefits to the firm.
The entrepreneur serves as the catalyst of creating a value for the customers that involves new ideas from various sources. O a. Opportunity Spotting and Assessment O b. Screening O c. Seeking O d. Seizing
Customers seek to optimize perceived value. There are several components of value that can be provided via the marketing mix elements. Propose specific product, price, distribution, and promotion strategies for your organization’s offer that could produce a higher perceived value (total value) for the target audience. Justify the value components you used to design a high-value overall strategy.
Which of the following concepts will be gained by a company when it performed better than its competitors in satisfying target consumers? A) Competition B) Competitive advantage C) Competitive price D) Competitive awareness
Which of the following are choices that managers must make in crafting their company's strategy? How to create products or services that will attract and please customers How to position the company in the industry How to compensate employees and attract top talent How to operate each functional area of the business
Imagine yourself as Business Development Manager in ABC and your task is to create new business strategies for your products and increase sales volume and diverse customer portfolio. Before you start, we would like to give some information about our current customer portfolio as follows: Customer Segment Percentage of segment Revenue Stream High-end / Michelin Restaurants 37% 50% Mid to High Restaurants 43% 34% Cafes / Small Restaurants 20% 16% Table shows our customer distribution by percentage of each segment and share of each segment in total revenue. Questions: (a) How would you increase sales among current customer portfolio (aka chefs/restaurants)? Which group of chefs/restaurants would you focus and why? Which channels would you use to reach your prospective customer and sell your products to them? (b) Remember your idea for new target group suggested by you in previous case, in which platforms or places would you sell your products among your…
Which is responsible for the future course of action to accomplish the predetermined targets of the company? a. Marketing Management b. Marketing Plan c. Marketing Mix d. Marketing Process
It focuses on easing the overall marketing process to make it more effective and efficient. O a. Service automation O b. All of the above O c. Salesforce automation O d. Marketing automation
Product may be a good, service, or just an idea. A product is "all things offered to a market." Which of the following options is an appropriate example of an idea? a. Car b. Oman air c. Blood donation campaigns d. Muscat securities market
Which of these is not included in the process of the marketing planning? a. Analysis of the marketing situation b. Developing marketing objectives c. Formulation of marketing strategies d. Copy the activities of the competitors
Create plan for a business administration student who has graduated with an associate degree by using the following steps A mission statement A SWOT analysis A description of the target market(s) A brief outline of the marketing mix strategies—the product, pricing, distribution, and promotion strategies

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