MKTB212 QUIZ1

What is the definition of marketing?

• Advertising through social media

• Selling products at low prices

• Communicating and delivering offerings of value

• Creating products for consumers

What does consumer behavior study?

• The production of goods

• Consumers' choices in purchasing

• Marketing strategies

• Advertising effectiveness

What is the marketing concept focused on?

• Satisfying consumer needs and creating value

• Reducing production costs

• Producing as many goods as possible

• Selling products aggressively

What does market segmentation involve?

• Dividing the market into distinct groups

• Creating a single product for all

• Increasing production efficiency

• Focusing on low prices

What is a key component of the marketing mix?

• Customer complaints

• Product or service

• Market research

• Advertising budget

What is cross-screen marketing?

• Tracking users across multiple devices

• Using only social media for ads

• Marketing only on mobile devices

• Focusing on print advertising

What is customer retention?

• Reducing customer service

• The process of acquiring new customers

• Keeping existing customers over time

• Increasing product prices

What does perceived value refer to?

• The marketing budget for a product

• The production cost of a product

• The customer's view of a product's benefits

• The actual cost of a product

What is one determinant of site satisfaction?

• High prices

• Transaction ease

• Limited product variety

• Poor customer service

What is the first step in the consumer decision-making process?

• Post-purchase evaluation

• Purchase

• Need recognition

• Evaluation of alternatives