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Marketing Fundamentals Flashcards | StudBud
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Marketing Fundamentals
Marketing Fundamentals
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StudBud Administration
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Test your knowledge on the key concepts and principles of marketing
Flashcards
7 cards
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Questions
7
Answers
1
What is the term for the range between adequate and desired levels of service customers find acceptable?
Zone of Tolerance
Service range of acceptance
Expectation area
Satisfaction Zone
2
What does 'exchange' mean in marketing?
Trading goods for services
Selling without profit
Buying without payment
Offering free products
3
What term best describes a customer's evaluation comparing perceived product performance to their expectations?
Responsiveness
Reliability
Confirmation
Satisfaction
4
What are 'wants' in marketing?
Government regulations
Desires beyond needs
Basic survival needs
Mandatory purchases
5
What is 'relationship marketing'?
Building long-term connections
Short-term sales focus
Maximizing immediate profits
Ignoring customer feedback
6
Which of the following is a component of the marketing mix?
People
Process
Product
Profit
7
True or false: Expectations are the same for all customers.
True
False
