Principles of Marketing

Which of the following is NOT included in 5 Marketing Concepts?

• Market

• Customer needs, wants, & demands

• Exchange

• Customer Satisfaction

As per Dr. Piano, what is the equation for Customer Satisfaction?

• CS=Performance>Expectation

• CS=Performance<Expectation

• CS=Benefits/Price

• CS=Price/Benefits

Human _______ are states of felt deprivation and can include physical, social, and individual needs.

• NEEDS

• WANTS

• PRICE

• PLACE

Which of the following is NOT included in 4 P's of Marketing?

• Promotion

• Products

• Place

• Peace

_________ are the form human needs take as they are shaped by culture and individual personality.

• Wants

• Needs

• Demands

• Performance

_______ are human wants that are backed by buying power.

• Needs

• Wants

• Demands

• Market offerings

_________ are a combination of products, services, and experiences offered to a market to satisfy a need or want.

• Market

• Marketing offerings

• Exchange

• Value and Satisfaction

___________ are the acts of obtaining a desire object from someone by offering something in return.

• Exchange

• Market

• Production

• Advertisement

_________ is the set of all actual and potential buyers of a product or service.

• Market

• Product

• Exchange

• Needs

Which of the following is ONE of the 5 alternative concepts that companies use to carry out their marketing strategy?

• Societal Marketing Concept

• Placement Concept

• Marketing Strategy

• Customer Satisfaction