According to the Five-Step Model of the Marketing Process, a Company

question 36

Multiple Choice

According to the five-step model of the marketing process, a company should ________ before designing a customer-driven marketing strategy.

• A) determine how to deliver superior value to customers
• B) build profitable relationships with customers
• C) use customer relationship management to create full partnerships with key customers
• D) understand the marketplace and customer needs and wants
• E) construct an integrated marketing program

---

Definitions:

Analytics

Computerized techniques to uncover and interpret meaningful patterns in big data.

Control Costs

Strategies and practices aimed at minimizing expenses and managing budget in business operations.

ICTs

Information and Communication Technologies, encompassing any digital technology that assists in creating, processing, storing, and exchanging information.

Surveillance

The close observation, especially of a suspected spy or criminal.