Chapter 1

1. The ____ concept holds that consumers will not buy enough of the firm’s products unless the firm undertakes a large-scale selling and promotion effort.
2. is the process of creating value for customers and building strong customer relationships in order to capture value from customers in return.
7. ____ is a want backed by buying power.
9. The marketing process involves understanding the marketplace, designing a customer value-driven marketing strategy, constructing an integrated marketing program, engaging customers, building profitable relationships, and ______ value from customers.

1. Customer ____ is the extent to which perceived performance matches a buyer’s expectations.
3. ____ is a state of felt deprivation.
4. The ____ concept holds that consumers will favor products that offer the most in quality, performance, and innovative features.
5. The four Ps of the marketing mix are product, price, ____, and place.
6. ____ is a specific desire that is shaped by culture and individual personality.
8. The five core marketplace concepts are needs, wants, demands, market offerings, ____ and satisfaction, and markets.