DTM20473 TOPIC 1 - INTRO - PHILOSOPHIES

According to Kotler, Bowens & Makens, what is marketing primarily about?

• Creating products for companies

• Creating value for customers and society

• Selling products at a lower price

• Advertising through social media

What does the American Marketing Association define marketing as?

• A set of institutions and processes for creating value

• A selling process

• A strategy for increasing production

• A method for reducing costs

Which of the following is NOT a function of marketing?

• Product Planning

• Promotion Planning

• Consumer Analysis

• Financial Auditing

What is a key benefit of effective marketing for businesses?

• Higher customer dissatisfaction

• Reduction in brand loyalty

• Increased production costs

• Expansion of business on various scales

Which principle of marketing focuses on creating a consistent brand image?

• People

• Price

• Packaging

• Promotion

What does the 'People' principle in marketing emphasize?

• Product pricing strategies

• Recruitment and training of competent personnel

• Advertising through various media

• Market research and analysis

Which marketing concept focuses on understanding and satisfying customer needs?

• Product Concept

• Production Concept

• Selling Concept

• Marketing Concept

What is the focus of the Societal Marketing Concept?

• Meeting customer needs while enhancing societal well-being

• Focusing solely on product quality

• Maximizing profits at any cost

• Increasing production efficiency

Which of the following is a function of marketing management?

• Reducing customer engagement

• Creating a safe and ethical product

• Limiting market research

• Increasing product prices

What does brand loyalty refer to?

• Customers who are indifferent to brands

• Customers who make repeat purchases

• Customers who only buy on sale

• Customers who switch brands frequently