According to the Simple Five-Step Model of the Marketing Process

question 158

Multiple Choice

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

• A)determine how to deliver superior value
• 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 key components of a marketing program

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Definitions:

Export Industries

Sectors of a country's economy that produce goods or services for sale to foreign countries.

Licensing Agreement

A legal contract whereby one party (the licensor) allows another party (the licensee) to use its intellectual property, brand, or product under specified conditions.

Global Business

The conduction of trade, production, or services across national borders, involving the planning and execution of transactions on an international scale.

Transborder Entrepreneurship

Involves creating and managing business ventures that operate across national borders, leveraging global market opportunities.