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WorksheetsWhat is Marketing? - Quiz
Total questions: 15
Worksheet time: 30mins
According to the American Marketing Association, marketing is defined as:
The process of promoting and selling products or services
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
The set of activities involved in identifying and anticipating customer needs
The process of understanding what people eat and buy, and then satisfying those wants and needs through effective management and strategies
What is the main purpose of marketing research?
To predict how products might be sold, created, or replaced
To develop a detailed picture of customers and their wants and needs
To analyze the data collected from the stock market
To add value to a company
What is the road to profitability in terms of marketing?
Adding value to a product
Increasing sales and revenue
Understanding customer preferences
Analyzing market trends in the economy
Who are the interested parties or stakeholders in a company?
Internal parties only
External parties only
Both internal and external parties
Customers only
What is form utility in marketing?
The most convenient time for purchase
The physical availability and accessibility of a product
The alteration of physical form to increase value
The ease of acquiring a product
How does marketing contribute to overall economic growth?
By driving the consumer economy
By creating more manufacturing jobs
By increasing revenue for private companies
By expanding operations
What is the purpose of internal marketing?
To promote the company offerings to the employees
To analyze market trends
To understand customer needs
To increase sales and revenue
What is time utility in marketing?
The most convenient time for purchase
The physical availability and accessibility of a product
The alteration of physical form to increase value
The ease of acquiring a product
What is place utility in marketing?
The most convenient time for purchase
The physical availability and accessibility of a product
The alteration of physical form to increase value
The ease of acquiring a product
What is marketing?
The set of activities involved in identifying and anticipating customer needs and then attempting to satisfy those needs profitably.
Managing a business
Advertising and managing human resources for purposes of selling products
Charging customers market value in order to increase customer equity
Another definition of Marketing is:
Increasing consumer value in the stock market
Running a business that meets the needs of suppliers
The process of advertising products in the stock market in order to further the company's objectives.
The process of promoting and selling products or services by understanding what people want and need, and then satisfying those wants and needs through effective communication and strategies.
What is a "benefit" of Marketing?
Marketing leads to increased sales for suppliers in the marketplace.
Marketing leads to increased sales and revenue for a business which enables them to expand operations, create more internal jobs and external jobs for partners like suppliers
Marketing leads to more taxes for a corporation therefore increasing sales
Marketing leads to more commission for the accounting department. This also created more inventory for the production department.
What is Internal Marketing?
Promoting the company's products/services to the management team of another company
Promoting the company's services to local customers
Promoting the company's products to suppliers
Promoting the company offerings to the employees
What is a "benefit" of Marketing?
Marketing contributes to the local Chamber of commerce banking system
Marketing contributes tax revenue to local, state, and federal governments, ultimately leading to overall economic growth.
Marketing contributes to the well-being of the accounting department
Marketing contributes to the Retirement accounts of a comapny's employees
"Just Do It" - What company uses this slogan?
Nike
Adidas
Apple
State Farm
