QUIZ CHAPTER 3 CYBERPRENEURSHIP

Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others

• TRUE

• FALSE

Identify the purpose of setting the marketing objective that is NOT TRUE

• To regain market for existing product

• To increase sales of existing products

• To estimate market acceptance and sales

• To encourage the creation of new product

Choose the statement that BEST reflects the marketing concept.

• We have organized our business to satisfy the customer needs

• We try to produce only high quality, technically efficient product

• We try to encourage company growth in the market opportunity and demand.

• We believe that marketing department must organize to sell what we produce

Choose the marketing function illustrated in the following situation:"Aina wants a leather jacket and sees a style she likes in a magazine advertisement"

• Product

• Promotion

• Selling

• Price

Infinite Distributors is a company who are buying goods in a large quantity from a supplier and resell to a retailers in a small quantity. Determine the company role in distribution channels.

• Reseller

• Jobber

• Wholesaler

• Customer

"The process of bargaining among many buyer and many sellers in a competitive market". Identify the CORRECT definition from that statement.

• Cost based pricing

• Promotion

• Market based pricing

• Industrial Products

Identify the disadvantage of marketing through social media.

• Large audience

• Increase brand loyalty

• Uncovers valuable insights

• Time intensive