All of the following are accurate descriptions of modern marketing, EXCEPT which one? A) Marketing is the creation of value for customers. C) Selling and advertising are synonymous with marketing. According to the opening scenario, the Tide marketing team is MOST concerned about which of the following? B) fostering customers' emotional connections with their product B) fostering customers' emotional connections with their product According to management guru Peter Drucker, "The aim of marketing is to ________." C) make
selling unnecessary Which steps of the five-step marketing process are about understanding customers, creating customer value, and building strong customer relationships? According to the simple five-step model of
the marketing process, a company needs to ________ before designing a customer-driven marketing strategy. D) understand the marketplace and customer needs and wants ________ are human needs as shaped by individual personality and culture. The process by which companies create value for customers and build strong customer relationships in order to
capture value from customers in return. The set of all actual and potential buyers of a product or service States of felt deprivation the form human needs take as they are shaped by culture and individual personality
Human wants that are backed up by buying power some combination of products, services, information, or experiences offered to a market to satisfy a need or want. Not limited to physical products, includes entities such as persons, places, organizations, information, and ideas. The mistake of paying more attention to the specific products a company offers
than to the benefits and experiences produced by these products the act of obtaining a desired object from someone by offering something in return. the art and science of choosing target markets and building profitable relationships with them. diving the market into segments of
customers selecting one or more segments to cultivate the set of benefits or values a company promises to deliver to consumers to satisfy their needs Consumers will favor products that offer the most quality, performance, and features; the organization should devote its energy to making
continuous product improvements. Consumers will not buy enough of the firm's products unless the firm undertakes a largescale selling and promotion effort. Eliminate, Create, Reduce, Raise Outlines levers the company can pull to deliver exceptional utility to buyers as well as experiences Customer Productivity Needs, wants, demand Product The portion of the customer's purchasing that a company gets in its product categories. need heavy investments to finance their rapid growth need less investment to hold their
market share require a lot of cash to hold their share, let alone increase it do not promise to be large sources of cash increasing sales of current products to current market segments without changing the product.
identifying and developing new market segments for current company products offering modified or new products to current market segments starting up or acquiring businesses outside the company's current products and markets. the collection of businesses and products that make up the
company. the marketing logic by which the company hopes to create customer value and achieve profitable customer relationships. dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs. a group of consumers who respond in a similar way to given set marketing efforts the process of evaluating each market segment's attractiveness and selecting one or more segments to enter. measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved. What are the accurate descriptions of modern marketing?Modern marketing is a holistic, agile, data-driven methodology that connects brands with their ideal customers to drive targeted business results. To achieve that level of personalization, we, as modern marketers, need to develop a deep understanding of our customers.
What is the description of modern marketing?Modern marketing is the ability to harness the full capabilities of the business to provide the best experience for the customer and thereby drive growth. In a recent McKinsey survey, 83 percent of global CEOs said they look to marketing to be a major driver for most or all of a company's growth agenda.
Which steps of the five step marketing process are about understanding customers creating customer value and building strong customer relationships *?Step 1: Understanding The Marketplace And Customer Needs And Wants. It is important to understand customer needs, wants, and demands to build want- satisfying market offerings and building value-laden customer relationships. This increases long-term customer equity for the firm.
What is the aim of marketing According to Peter Drucker?“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself… The aim of marketing is to make selling superfluous.” – Peter Drucker.
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All of the following are accurate descriptions of modern marketing, except which one?
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