Quiz 1 week 1 ( marketing overview)

Good Marketing is no accident, but as a result of careful planning and __________?

• Execution

• Selling

• Strategies

• Research

Most formal definition of Marketing is?

• Meeting needs profitably

• Identifying and meeting human and social needs

• The 4P's (Product, Price, Place, Promotion)

• An organizational function and a set of processes for creating, communicating, and delivering value to customers, and managing customer relationship in ways that benefit the organization and its stakeholders.

An exchange facility that allows interaction of buyers and sellers for the purpose of trade

• Marketing concept

• Market

• Marketing management

• Marketing system

A term referring to a stable, formal and social structure that takes the resources from the environment and process them to produce outputs.

• Business

• Business organiztion

• Organization

• Business concept

Marketing Management is _________?

• Managing the market process

• Monitoring the profitability of the company's products and services

• The art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering and communicating superior customer value.

• Selecting target market.

Process of informing, educating, and stimulating customers to consume producer's finished products?

• Consumption

• Promotion

• Production

• Marketing

An act of buyers to use the products being acquired either for personal or business purpose?

• Consumption

• Promotion

• Production

• Marketing

An idea/ concept that customer will only buy products from producers only if it conforms their preferences, needs and wants?

• Product Concept

• Production Concept

• Selling Concept

• Marketing Concept

_________________consists of all the actors like suppliers, companies, competitors, intermediaries, and end users in the system who are affected by major environmental forces?

• Marketing Concept

• Marketing System

• Marketing Plan

• Marketing Strategies

Marketing is a _____________ by which companies create value for customers and build strong relationships and capture value from customers in return.

• Strategy

• Concept

• Process

• Plan