Which is not part of the 5 C's of marketing strategy?
Customers
Context
Collaborators
Continuity
Statement 1: Customer value is the sum of the benefits from a marketing offering and the cost of obtaining these benefits
Statement 2: Customer value is the difference between the benefits from a marketing offering and the cost of obtaining these benefits.
Statement 3: A customer will always dwell on value as a key determinant of buying behavior.
Only Statement 1 is correct
Only Statement 2 is correct
Only Statement 3 is correct
Statement 1 and Statement 3 are correct
Which tool can be used as part of the 5C framework to analyze the external environment in which a business operates? Choose the best answer
Competitive matrix
PESTEL
Porter's Five Forces
Vendor Analysis
According to the video, controllable variables which a company puts together to satisfy its target market make up its?
Competitive offering
Marketing Mix
5-C framework
The buyer's journey is through three main primary stages:
discovery, confirmation and decision
convincing, confirmation and decision
discovery, consideration and decision
consideration, informing and decision
Which part of the marketing mix is concerned with informing the target market about the product?
Product
Place
Price
Promotion
❌ tailors the marketing mix to meet the needs of a specific group of people.
The total stream of purchases a customer could contribute to the company over the length of their relationship is referred to as?
Customer whole value
Customer estimated value
Customer lifetime value
Customer satisfaction value
Which of these is a type of unpaid, non-personal presentation of ideas, goods and services?
Advertising
Personal selling
Publicity
Sales promotion
Price is the most important component of the marketing mix
❌ environment is not part of a company's external marketing environment
A market environment where a number of small firms control the market and the barriers to competitive entry is very high is known as?
Monopolistic competition
Monopoly
Oligopoly
Pure competition
Which of these best explains the difference between Generic and Product markets?
Generic markets offer broadly similar needs in diverse ways, while Product markets offer very similar needs with close substitutes
Generic markets offer broadly different needs with close substitutes, while Product markets offer very similar needs in diverse ways
Generic markets offer broadly similar needs with close substitutes, while Product markets offer very different needs in diverse ways
Generic markets offer broadly different needs in diverse ways, while Product markets offer very different needs with close substitutes.
Marketing managers should focus solely on the product, while expecting the customer to adapt.
According to the video, which of these is not one of the target market approaches?
Single target market
Multiple target market
Customer target market
Combined target market
A segmenting dimension which uses income, sex or age, family size, occupation, and education variables is most likely
Geographic
Socio-cultural
Demographic
Behavioral
❌ is a computer-aided method with which marketers can get additional help with market segmentation
Part of the criteria for determining the number of market segments requires that the segment be large enough to be profitable.
The part of the 5-C framework which assesses organizations fulfilling the same wants and needs of the same customers as the company's offerings is?
Competitors
Company
Customer
Regulations and laws, economy, cultural norms and technological factors are part of which of the 5-C's?
