Week2 TUT2 Overview of Marketing (Part 1)

1.     What is the goal of marketing?

• to attract new customers

• to keep current customers

• to grow current customers

• all of the above

2.  All of the following are accurate descriptions of modern marketing EXCEPT which one?

• Marketing involves satisfying customers' needs.

• Marketing is the creation of value for customers.

• Selling and advertising are synonymous with marketing.

• Marketing is managing profitable customer relationships.

3. When backed by buying power, wants become ________.

• Social needs

• Demand

• Command

• Physical needs

4. Which of the following refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs?

• Selling myopia

• Selling concept

• Marketing management

• Marketing myopia

5. You are preparing a combination of products, services, information, and experiences to a market to satisfy needs and wants. What are you preparing?

• Demand satisfaction

• Value proposition

• Tactical plan

• Marketing offer

6. ________ are human needs as shaped by individual personality and culture.

• Wants

• Exchanges

• Needs

• Values

7. Jamie has always wanted to subscribe to Fox Sports to watch his favourite rugby teams compete. He now has the buying power to purchase the subscription for a year. Jamie's want now has become a(n) ________.

• Need

• Transaction

• Demand

• Exchange

8. Customer satisfaction depends on the product's perceived performance relative to a buyer's expectations.

• True

• False

9. Exchange is the act of obtaining a desired object from someone by offering something in return.

• True

• False

10. Marketing is more important to large corporations than it is to smaller organisations or to governmental or not-for-profit organisations.

• True

• False

Answer explanation

"Marketing is more important to large corporations than it is to smaller organisations or to governmental or not-for-profit organisations."

FALSE!!!

Because it is just as important to all organisations