MKT420 POP QUIZ

Marketing is best defined as _________________.

• Selling products to as many customers as possible

• A process of creating value for customers and building relationships

• Promoting goods and services through advertisements

• Reducing prices to attract customers

The​ __________ concept holds that consumers will favor quality product with good features.

• production

• selling

• marketing

• product

___________ is the extent to which perceived performance matches a buyer's expectations.

• Customer needs

• Customer wants

• Customer satisfaction

• Customer perceived value

__________ are shaped by culture and an individual's personality.

• Needs

• Wants

• Demands

• Market offerings

__________ is a group of consumers who respond in a similar way to a given set of marketing efforts.

• Market segment

• Market segmentation

• Market targeting

• Market positioning

Within the growth-share matrix,"question mark" are​ __________.

• high-growth, high-share businesses or products

• low-share business in high-growth markets

• high-share businesses in​ slow-growth markets

• low-growth, high-share businesses or products

When a firm starts up or buys a business outside of its current product line and markets, it is pursuing which growth strategy?

• Diversification

• Market penetration

• Market development

• Product development

The statements above refers to ______________________.

• Goal

• Vision

• Mission

• Objectives

New product development process begin with_____________.

• idea screening

• idea generation

• concept development

• prototype development

Services that cannot be seen, tested, felt, heard or smelled before purchase refers to:

• Variability

• Perishability

• Intangibility

• Inseparability