MARKETING MANAGEMENT ASSIGNMENT

Name: -Kunal Ashokrao

Talane Roll No: -23318

DIV – C

1. Marketing is about satisfying customer needs.

2. Marketing is managing customer relationships.

3. The first step in the marketing process is to design a marketing strategy.

Ans: False.

4. Now that we have created value for customers, the final step in the marketing process is

to capture value from them.

Ans: True.

5. The most basic concept underlying marketing is that of human needs.

6. Outstanding marketing companies go to great lengths to learn about and understand

the customers’ needs, wants and demands.

Ans: True.

7. Market offerings are limited to physical products.

Ans: False.

8. The art and science of selecting target markets and developing profitable relationships

with those markets is called marketing management.

9. Which marketing philosophy purports that achieving corporate goals depends on

knowing the needs/wants of your markets and delivering the desired satisfactions better

than your
competitors?

Ans: Marketing concept.

10. Customer relationship management (CRM) deals with all aspects of acquiring, keeping,

and growing customers.

Ans: True.

11. To build lasting customer relationships, organizations should focus on delivering and

customer value; customer satisfaction.

12. The set of benefits/values a company promises to its customers is called value proposition.

13. There are five alternative concepts under which organizations design and carry out

their marketing strategies: the production, product, selling, marketing, and societal

marketing concepts.

Ans: True.

14. The customer's evaluation of the difference between benefits and costs of a

product/service as it relates to the competition is called customer perceived value.

Ans: True.

15. The Procter and Gamble Co. is the nation's 24th largest advertiser with an annual budget of

more than $1 billion.

16. Which of the first four steps of the marketing process asks, "What consumers will we

serve?" and "How can we best serve targeted customers?"

Ans: Understanding the marketplace.

17. Which step of marketing process is the most important?

Ans: Understanding the marketplace.

18. Customer satisfaction depends on the product/service’s perceived performance relative to

a seller’s expectations.

Ans: True