Marketing Management Long Quiz

The objective of Selling Concept is to convince consumer's mind towards purchasing goods and services

It is the act or process of obtaining a desired product from someone by offering something in return

In terms of business planning, Marketing Concept is short-term while Selling Concept is long-term

A part of market communication process w/c is done w/ the aim of seeking attention of the public to a particular product

These are anything that can be offered to satisfy a need or a want whether they are goods or services

It is getting the right product to the right people, at the time, place, price with the right communication & promotion

These are the essential elements that make the whole marketing system complete

The basic unit of exchange

The idea behind the core or key concepts of marketing is...

It occurs when a person feels physiologically deprived of basic necessities such as food, clothing and shelter.

Market can either be a place or a person

According to American Marketing Association, the term Marketing has no exact definition

It is the science & art of exploring, creating, & delivering value to satisfy the needs and wants of a target market

Marketing today is finally customer-focused. Social media made that happen according to Sally Falkow.

Selling is about attracting buyers while Marketing is about guiding the buyer to make a purchase

Core Marketing Concepts are essential yet partial elements of the marketing system.

Demands are wants for specific products backed by the ability and willingness to buy them.

The terms 'exchange' and 'transaction' are synonymous terms thus can be used interchangeably

It is a felt need that is shaped by a person’s knowledge, personality or individuality, and culture.

These are innately useful and relatively scarce tangible items produced from various manufacturing activities