Identifying and satisfying consumer needs and wants.

What are the business buyers' three types of buying situations?

Straight rebuys, modified rebuys, new task

Which of the following best defines marketing?

the maximisation of company sales

Which of the following is not an element of Porter’s 5 Forces Model?

The firm’s macroeconomic environment.

What is “marketing myopia”?

It is product focused rather than customer focused

Which of the following is NOT included in the marketing process to achieve its objectives

Raising funds to finance the marketing projects

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Marketing mix

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Questions 20

Answers

1
In addition to businesses, the marketing concept is also applicable to
Religious groups
Fine arts organizations
Government agencies
All of the above
2
Which of the following is NOT included as a basic idea in the definition of marketing concepts?
Total company effort
Profit
Customer satisfaction
Productivity
3
What is marketing?
Buying as many products as you can
Identifying and satisfying consumer needs and wants.
Selling as many products as possible
Setting up a market stall
4
Which of the following is one of the business roles in the purchase decision process?
Producer
None of the above
Retailer
Gatekeeper
5
What are the business buyers' three types of buying situations?
Straight rebuys, rebuys for laggards, old task
Awareness, evaluation, trial
None of the above
Straight rebuys, modified rebuys, new task
6
Selecting a target market involves all of the following steps EXCEPT
describing each group
grouping customers with similar need sets.
all of the above are involved
selecting an attractive group to target.
7
Business buying situation in which buyer reorders same product is classified as
straight rebuy
new task
modified rebuy
solutions selling
8
Which of the following best defines marketing?
increasing profitability of buyer - supplier relationships
improving the market share of organisations
matching the resources of organisations with customer needs
the maximisation of company sales
9
In busines buying process,group who has formal authority of supplier selection is classified as
decider and gatekeeper
influencer
buyer
user
10
Business buying process starts with the
supplier search
problem recognition
product specification
general need description
11
Which of the following is not an element of Porter’s 5 Forces Model?
The potential competition from new entrants.
The firm’s macroeconomic environment.
The firm’s existing competition.
The bargaining power of suppliers.
12
What is “marketing myopia”?
It is product focused rather than customer focused
Firm sees change as threat &therefore defends the status quo
It fails to respond to technological change
13
Business markets usually includes fewer but
small scale retailers
small scale wholesalers
large scale production firms
small scale production firms
14
Customer classification depends on
Projected loyalty
Potential profitability
None of above
Both a and b
15
Which of following would be most likely to possess a low market share and a high growth rate?
Star
Dog
Cash cow
Question mark
16
_ is difference between benefits a customer sees and the costs of obtaining those benefits
Profit margin
Competitive benefit
Customer value
Satisfaction scale
17
Which of the following is NOT included in the marketing process to achieve its objectives
Planning marketing activities
Raising funds to finance the marketing projects
Controlling marketing plans
Directing implementation of the marketing plans
18
Whole sellers and retailers buying behavior is classified as
business buying process
derived demand
business buyer behavior
cognitive dissonance
19
Which of the following would not be a part of an organisation's micro-environment?
Partners such as suppliers and retailers
economy
Competitors
Customers
20
When using the PESTL framework, marketers are investingating:
internal forces
Macro-environmental forces
Competitive forces
Micro-environmental forces

Marketing mix Flashcards | StudBud