Module 02: Marketing Orientations or Concepts

What is the fundamental concept underlying all marketing activities?

• a. Wants

• b. Demands

• c. Needs

• d. Exchanges

Which type of needs include physiological needs for food, clothing, warmth, shelter, and safety?

• a. Social needs

• b. Psychological needs

• c. Self-actualization needs

• d. Physiological needs

When human wants are backed by purchasing power and willingness to buy, they become:

• a. Desires

• b. Needs

• c. Demands

• d. Experiences

According to Abraham Maslow, what is the highest level of needs in his hierarchy of needs theory?

• a. Safety needs

• b. Physiological needs

• c. Social needs

• d. Self-actualization needs

Which of the following is NOT a category of marketing offers?

• a. Physical products

• b. Services

• c. Information

• d. Energy

What is customer value defined as?

 

• a. The cost of buying a product

• b. The difference between what customers gain from a product and the cost of buying it

• c. The price of the product

• d. The manufacturer's profit from the product

Customer satisfaction with a purchase is influenced by:

 

• a. Setting high customer expectations

• b. Delivering less than what was promised

• c. Meeting or exceeding customer expectations

• d. Ignoring customer feedback

What is the act of obtaining an object that one needs from another by offering something else in return called?

• Exchange
• Transaction
• Relationship

• Market

In marketing, what is the goal beyond attracting new customers and creating transactions?

• a. Maximizing short-term profits

• b. Maintaining a competitive edge

• c. Building and maintaining desirable exchange relationships

• d. Minimizing marketing costs

What does a market refer to in marketing?

• a. A physical place where buying and selling occur

• b. A place where competitors meet

• c. Different groups of consumers for a product or service

• d. A place where sellers set prices