Fundamentals of Marketing

Question 1

14. ______is the best illustration of a subculture.

Accepted Answer

A. Religion

Question 2

12. Marketers often use the term ________ to cover various groupings of customers.

Accepted Answer

B. Market

Question 3

4. In the history of marketing, when did the production period end?

Accepted Answer

C. In the 1920s.

Question 4

9. Select an appropriate definition of ‘Want’.

Accepted Answer

C. Needs directed to the product

Question 5

5. Marketing is activity, set of ___________ & processes for creating, communicating, delivering & exchanging offerings

Accepted Answer

A. Institutions

Question 6

20. Which one of the following is a key to build lasting relationships with consumers?

Accepted Answer

D. Quality of product

Question 7

Buying a food item is ----------

Accepted Answer

C. Need

Question 8

16. place where goods are bought & sold against a price consideration between the buyers & sellers is called ______.

Accepted Answer

B. Market

Question 9

18. _______ Involves transfer of ownership of the goods.

Accepted Answer

A. Selling

Question 10

3. The term marketing refers to _______

Accepted Answer

D. A philosophy that stresses customer value and satisfaction.

Question 11

1. _____ is the father of Modern Marketing.

Accepted Answer

D. Philip Kotler

Question 12

15. ______ are the form of human needs take as shaped by culture & individual personality.

Accepted Answer

D. Social Needs

Question 13

17. The key customer markets consist of ____________

Accepted Answer

D. All of the above

Question 14

7. Marketing is _______, there is a constant tension between the formulated side of marketing and the management side.

Accepted Answer

C. Both an “art” and a “science”

Question 15

2. Marketing is a process which aims at ________

Accepted Answer

C. The satisfaction of customer needs

Question 16

19. ________ is not a type of Marketing Concept.

Accepted Answer

D. The Supplier Concept

Question 17

13. Good marketing is no accident but a result of careful planning and _____.

Accepted Answer

D. Execution

Question 18

6. The key term in the American Marketing Association’s definition of marketing is:

Accepted Answer

D. Value

Question 19

11. Want for a specific product backed by an ability to pay is called _____

Accepted Answer

A. Demand

Question 20

10. _______ is the act of obtaining a desired object from someone by offering something in return.

Accepted Answer

C. Exchange

Question 21

8. Today, marketing must be understood in a new sense that can be characterized as _________

Accepted Answer

C. Satisfying customer needs.

Questions 21