1- A marketing manager's ability to create a satisfactory feeling for the customer following the purchase of a product is called

		value proposition.
		perceived value.
		perceptual value.
		bargain value.

2-

If you were to compare marketing today with marketing 25 years ago, one of the big differences would be

		the refinement of Maslow's Hierarchy of Needs.
		the focus on relationships.
		the importance of business-to-business marketing.
		the change in the consumer buying model.

3-

A marketing plan is best described as

		a written statement for managing exchanges with customers.
		a blueprint for how advertising and promotions will sell a product.
		a strategy outlining the steps taken to persuade consumers.
		coordinated actions between product managers, marketing managers, and executives.

4-

If a firm sets goals and creates a focused approach that is too broad, it can waste time and effort. On the other hand, if the goals and approaches are too narrow, it can lead to

		marketing myopia.
		marketing focus.
		short-term profitability.
		being too successful too soon.

5-

GEICO, unlike major competitors State Farm and Allstate, does not rely on an agent network. They utilize savings from this to both offer lower rates and invest more heavily in advertising spending. Their unique selling proposition is reflected in their familiar slogan "15 Minutes Could Save You 15% on Car Insurance." Which element of their marketing mix is least impacted by their business model?

		Price
		Promotion
		Place
		Product