Business Marketing Exam

1. In layman’s term, what is Marketing all about?

• Selling a product

• Buying a product

• Exchanging a product

• Marketing a product

2. It is defined by the marketing professional as the process that begins right at the moment when an aspiring entrepreneur or business development manager to realizes that there is an opportunity to build up a business.

• Marketing Strategy

• Marketing

• Marketing Methods

• Marketing Process

3. This is an individual that seek to provide valuable products and services to customers.

• Seller

• Buyer

• Marketer

• Supplier

4. It is a marketing process that includes Customer segmentation, target market selection and value positioning.

• Strategic Marketing

• Tactical Marketing: Value Deployment

• Tactical Marketing: Value Communication

• Content Marketing

5. It is a state of felt deprivation about something that is deemed to be necessary.

• Needs

• Wants

• Demands

• Luxury

6. It is a specific manifestation of needs.

• Needs

• Wants

• Demands

• Luxury

7. These are the wants that are backed by purchasing power.

• Needs

• Wants

• Demands

• Luxury

8. It is a typical market that when a supply is less than demand, manufacturers generally have no problems selling whatever they produce.

• Seller's market

• Buyer's market

• Consumer's market

• Client's market

9. It applies to anything that is being marketed, whether it is a tangible product, an intangible good, a service, a place, or even a person.

• Product

• Item

• Commodity

• Supply

10. This is the mindset that you just have to produce as much of your product as you can in order to meet the demand.

• Product orientation

• Demand orientation

• Supply orientation

• Manufacturing orientation