Midterm Exam Oct $2023$

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Section $1$: Multiple Choice

Please circle the correct response $(1$ mark each, $40$ questions$)$

Chapter $1$:

Marketing, more than any other business function, deals with

A$)$ customers

B$)$ sales

C$)$ advertising

D$)$ new products

E$)$ brands

According to the five$-$step model of the marketing process, the first step in marketing is

A$)$ capturing value from customers to create profits and customer equity

B$)$ constructing an integrated marketing program that delivers superior value

C$)$ engaging customers, building profitable relationships, ans creating customer delight

D$)$ understanding the marketplace and customer needs and wants

E$)$ designing a customer$-$driven marketing strategy

Marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on

A$)$ consumers' brand experiences

B$)$ competitors' threats

C$)$ consumers' existing wants

D$)$ competitors' strengths

E$)$ consumers' future demands

$4]$ is the art and science of choosing target markets and building profitable relationships with them.

A$)$ Differentiation

B$)$ Marketing management

C$)$ Positioning

D$)$ Segmentation

E$)$ Customer$-$perceived value