Marketing can be defined as?
Correct answer: D. All of above
- A. Creating value for customers
- B. Building strong relationships
- C. Capturing value from customers
- D. All of above
Explanation
Modern marketing involves creating value for customers, building profitable relationships and capturing value in return through sales, loyalty and customer lifetime value. Therefore all three statements describe connected parts of marketing.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Marketing
Marketing covers how organisations identify customer needs, create value and exchange products or services through suitable markets. Key concepts include market segmentation, targeting, positioning, consumer behaviour, the marketing mix of product, price, place and promotion, branding, product life cycle and differences between marketing and selling.
Practise Marketing
1,700 free Marketing MCQs from Management Sciences, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Management Sciences questions like this
Management Sciences is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Marketing questions
Segmentation of international market considering the factors such as receptivity of foreign firms is an example of?
The second step in marketing research process is?
The research based on hypothesis suggestion and problem definition is classified as?
The 'inside-out' perspective is referred in?
The needs of customers are triggered by?
The set of vehicles which are used to deliver message to intended audiences is classified as?