EEL 421(1)

What is a market?

• A place where buyers and sellers exchange goods or services

• A place where buyers exchange goods only

• A place where sellers exchange goods only

• A place where goods are manufactured

Which of the following is an example of a digital market?

• A physical grocery store

• Amazon

• A farmer's market

• A mall

Who is known as the father of marketing?

• Dr. Philip Kotler

• Steve Jobs

• Bill Gates

• Mark Zuckerberg

How does marketing differ from selling?

• Marketing focuses on customer needs and wants, while selling focuses on revenue.

• Selling focuses on customer needs and wants, while marketing focuses on revenue.

• Both marketing and selling focus on revenue only.

• Both marketing and selling focus on customer needs and wants.

What is the main goal of marketing?

• To increase customer loyalty

• To increase sales and profit

• To build brand awareness

• All of the above

What is brand building?

• Generating awareness about a business to create a unique and lasting image in the marketplace

• Selling goods to customers to increase revenue

• Producing goods that are required by customers to increase sales

• None of the above

Which of the following does Amazon do in its marketplace?

• Amazon sells the products itself

• Amazon buys products from third-party sellers

• Amazon acts as a platform to connect buyers and sellers

• None of these