STUDENT SERKAME (ber SAST FIRST HAME 1. According to the five-step moddel of the marketing process, a company should before designing a customer driven marketing strategy A detemine how to deliver superior value to customers understand the marketplace and customer needs and wants use customer relationship management to create futl partnerships witth key customers D. build proftable relationships with customers E construct an integrated marketing program are human needs that are shaped by cufture and individual personality A Necessites B/wants C. Demands D. Values E. Exchanges 3. Which of the following terms refers to sellers being preocoupied with their own products and losing sight of underlying consumer needs? A vendor lock-in B social loafing C. value proposition D) marketing myopia conspicuous consumption 4. Dividing the market into various groups of customers that a company may serve is called market segmentation B. positioning c. customization D. target marketing E. differentiation 5. Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs? A customer lock-in B. a cartel C marketing mix D) value proposition market segmentation 21Page s T n SAST 6Which of the following marketng anentations hods tatacheving organizational geals depends on knowing the needs and warts of arget markets and oeivering the desired satisactions beter tan compettors do? A the product concept B the production concept C the selling concept ) the marketing concept Ee societal marketing concept h 7. Mission statements should be defined in tems of A the advantages a company's products provide B satistying basic customer needs C the value a company's products provide D the profitabilty of a company's products the variety they offer to a customeer 8 Which of the following is NOT an example of product-oniented mission statements? A We are an onine ibrary. B. We nun theme parks "We sell athletic shoes We sell memorable experiences We rent hotel rooms Phoenix, a popular coffee shop chain in Kingdom of Saudi Arabia, recently opened 50 new stores to cater to its rapidly increasing number of customers (patrons). This exempifes product differentiation B. product development C. diversiication D. market penetration E. market segmentation 9 10. The network made up of the company, its suppliers, ts distributors, and, ultimately, its customers who partner with each other to improve the performance of the entire system is known as the A business portfolio B. supply chain C. marketing mix D)value delivery network E. intenal value chain 31Page