Principles of Marketing - Unit 1 Test

Front

What is the primary goal of marketing?

Back

To create value for customers by satisfying their needs and wants

Front

Which of the following is NOT an activity involved in marketing?
Determining what type of research about customers is needed,
Deciding how to get products to customers,
Pricing, promoting, and selling the products

Back

Manufacturing products

Front

What is a 'good' as defined in the text?

Back

A physical item that can be touched

Front

Which of the following best describes a 'want'?
Options: Something necessary for survival, A physical item that can be touched, Something that a person desires but can live without, An action that one person performs for another

Back

Something that a person desires but can live without

Front

What does marketing consist of according to the text?

Back

Dynamic activities that identify, anticipate, and satisfy customer demand while making a profit

Front

What is one of the primary roles of a marketing manager?

Back

To identify potential customers and develop strategies to market the company’s products or services

Front

Which of the following is NOT a typical job title for a marketing professional? Marketing manager, Marketing director, Marketing coordinator, Financial analyst

Back

Financial analyst

Front

What are the three elements of the marketing concept?

Back

Customer satisfaction, total company approach, and profit

Front

Why is it beneficial to develop and maintain relationships with customers?

Back

It is less costly to keep a current customer than to attract a new one

Front

What is customer satisfaction?

Back

The degree to which customers are pleased with a company's products