2. It is defined by the marketing professional as the process that begins right at the moment when an aspiring entrepreneur or business development manager to realizes that there is an opportunity to build up a business.

3. This is an individual that seek to provide valuable products and services to customers.

4. It is a marketing process that includes Customer segmentation, target market selection and value positioning.

5. It is a state of felt deprivation about something that is deemed to be necessary.

6. It is a specific manifestation of needs.

7. These are the wants that are backed by purchasing power.

8. It is a typical market that when a supply is less than demand, manufacturers generally have no problems selling whatever they produce.

9. It applies to anything that is being marketed, whether it is a tangible product, an intangible good, a service, a place, or even a person.

10. This is the mindset that you just have to produce as much of your product as you can in order to meet the demand.

11. The sales force becomes the front liners who take matters into their hands and push the products directly to the customers called:

12. It begins with identifying and understanding a particular target market.

13. It is an activity that covers the distribution aspect and the price mechanism of the product.

14. This is what happens any time two or more people trade goods or services.

15. It is the suggested retail price of goods and services in the market.

16. These are five kinds of economic utility that can be offered by products and services:

17. It is a kind of utility that if a firm can offer a product or service far quicker than alternative providers, the customer will also value this speed of service.

18. It is a utility that knowing certain things about the product can already imbue it with value.

19. It is the mnemonic that summarized the basic framework for any marketing strategy.

SWOT stands for:

21. The components of business environment are:

22. This is the environment that refers to the business itself.

23. Checklists of the things that need to assess in the company’s internal environment except:

24. It refers to the immediate industry in which the company is doing business.

25. The checklist of what to look out for in the competitive environment except:

26. In the competitive environment, the company wants to know who they are and what are their strengths and weaknesses.

27. It is a popularly used framework for understanding the competitive structure of an industry.

28. The micro environment is formed by two environments:

29. This is a looming larger environment.

30. PEST is a popular mnemonic that stands for:

31. It is the people, equipment, and procedures used to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision-makers.

32. It is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.

33. It is best use when trying to determine a market’s opinions, perceptions, and basic demographic data.

34. The market for a product can be categorized as follows except one:

35. It is a common technique for predicting demand for a new product

36. It is a personal demographic factor.

37. It is a way of life.

38. This the stage in the generally accepted lifecycles that is young, single and independent.

39. In the five identified buying roles in the buying process, this is the person who first suggests the idea of buying particular product or service.

40. This buying behavior happens when consumers feel that learning about the different competing products is not worth it, so they would rather select the product that they are most comfortable with.

41. We have two brains; it means that we have two kinds of decisions and these are our:

42. Traditionally, markets were segmented according to the following variables except:

43. It is a popular way of segmenting a market which is how many fast-moving consumer goods are segmented.

44. Which is not an example of organizational markets?

45. Which one is not the characteristic of the organizational market?

46. This is the buying situation that refers to routinized purchases, ideal for suppliers who, for obvious reasons, hope to make purchases of their products a habit.

47. This typical buying roles in organizational markets, that have formal or informal power to select or approve final suppliers.

48. This typical buying roles in organizational markets, have formal authority to select suppliers and arrange terms.

49. This is the buying process, that the client organization acknowledges the need for a particular product or service.

50. This the buying process that starts in a formal buying process where forms are filled out that justify the need for the purchase.