CMMS MOCK EXAM

A business approach that views marketing as a core business principle and a practical set of methods is best described as:

• A tactical sales model.

• A production-centric framework.

• A philosophical and functional duality.

• A promotional strategy.

The formal definition of marketing by the American Marketing Association centers on a process of creating, communicating, and exchanging what?

• Physical products to a target demographic.

• Value-laden offerings for various stakeholders.

• Services exclusively for clients and partners.

• Profits for the benefit of the company.

The central aim of all marketing efforts is to achieve a positive transactional outcome. What is this transaction called?

• Purchase

• Negotiation

• Exchange

• Trade

For an exchange to occur, which of the following is an essential prerequisite?

• A mutually agreed-upon price in monetary terms.

• An intermediary to facilitate the transaction.

• The capability of all parties to interact and deliver.

• A legal contract must be signed by all parties.

Customer value is a core concept in marketing. It can be defined as the relationship between:

• The customer's income and the product's price.

• The quality of the product and its brand recognition.

• The sacrifices made and the benefits received.

• The quantity of a product and its availability.

The document describes several types of customer needs. The need addressed by products that save time or reduce effort is best classified as:

• Emotional needs

• Life-changing needs

• Social impact needs

• Functional needs

A high-end product that confers a sense of pride and social status to its owner is primarily satisfying which type of customer need?

• Aspirational

• Emotional

• Functional

• Physiological

Which of the following is a primary outcome of successful relationship marketing?

• Maximizing short-term profits.

• Achieving a one-time, high-value sale.

• Building long-term customer connections.

• 1. Eliminating the need for promotional activities.

A company that defines its purpose by the customer problems it solves rather than the products it makes is demonstrating:

• Production Operation

• Sales Orientation

• Market Orientation

• Product Orientation

The concept of an organization existing to satisfy customer needs while also considering society's long-term best interests is known as:

• Production Orientation

• Sales Orientation

• Societal Marketing Orientation

• Market Orientation