3rd Quarter Exam in Principles of Marketing

Which of the following statements defines marketing correctly?

• Marketing refers to the process of manufacturing goods.
• Marketing involves selling products at high prices.
• Marketing involves identifying and satisfying customer needs.
• Marketing is a technique to manipulate customer behavior.

Which of the following statements is NOT true about marketing?

• Marketing involves identifying and satisfying customer needs.
• The primary goal of marketing is to maximize profits for the company.
• Marketing includes a range of activities such as product development, pricing, promotion, and distribution.
• Marketing is essential for the success of any business.

_______ are human wants that are backed by buying power.

• Needs
• Wants
• Market offering
• Demands

He is a person who identifies the goods and services needed or wanted by the customers and markets them.

• Marketer
• Customer
• Accountant
• Consumer

He is a person or business that buys goods or avails of services produced or offered by a firm.

• Marketer
• Customer
• Accountant
• Consumer

It refers to the process of offering something to another and then being offered something in return.

• Marketing
• Transaction
• Talking
• Exchange

What is the primary goal of marketing?

• To increase profits for the company
• To build long-term relationships with customers
• To create awareness about the company's products or services
• To sell as many products as possible

What is the role of marketing in identifying customer needs?

• To manufacture products that customers want
• To promote products that customers don't know they need
• To understand and anticipate customer needs
• To sell products regardless of customer needs

What is the goal of marketing communications?

• To increase profits for the company
• To build brand awareness and create a favorable image of the company
• To sell as many products as possible
• To reduce the cost of production

What is the focus of experiential marketing?

• Selling as many products as possible
• Creating memorable experiences for customers
• Reducing the cost of production
• Acquiring new customers