Market development

One of the benefits of value-driven marketing is that attention to customer needs and wants will likely result in

Question 1 options:

strong connections among competing firms in the marketplace.

lower prices.

increased competition.

long-term relationships.

Question 2(2.5 points)

Value-driven firms constantly measure the __________ that customers perceive, compared to the prices of their offerings.

Question 2 options:

relationships

merchandise

benefits

information

rebates

Question 3(2.5 points)

Your roommate, a non-business major, sees you reading your marketing text. He or she asks, “Why is marketing important?” You respond by saying all of the following EXCEPT

Question 3 options:

Marketers advise production on how much product to make.

Marketers tell the logistics department when to ship products.

Marketers engage customers and develop long-term relationships.

Marketers identify opportunities to expand.

Marketers are the most important profit center in any organization.

Question 4(2.5 points)

Whenever Arnold calls his insurance agent, the agent tells Arnold about new types of insurance available. The agent is pursuing a ________________ growth strategy.

Question 4 options:

market development

diversification

product proliferation

product development

market penetration

Solution: