MKTG1501 – MCQ || QUESTIONS WITH COMPLETE
SOLUTIONS.
*What is the process by which companies create value for customers and build strong customer
relationships in order to capture value from customers in return?*
managing
profit building
selling
advertising
marketing correct answers marketing
*Marketing means different things to different people, and the different usage is confusing, and
misleading at times. The term "marketing" is best identified in today's business world with the
concept of:*
satisfying customer needs
making a sale
communication through advertising
maximising consumption
creating customer needs correct answers satisfying customer needs
*According to your text book, today's successful companies at all levels have one thing in
common - they have a strong __________ concept.*
product
production
marketing
selling correct answers marketing
*In outstanding marketing companies, people at all levels stay close to customers.*
True
,False correct answers True
*Marketing myopia refers to*
sellers who fail to see the intangible benefits of retaining poorly-performing products.
customers who base the majority of their purchases on cost rather than quality.
sellers who pay more attention to the specific products they offer than to the benefits and
experiences produced by these products.
suppliers who disregard the importance of customer service when working with corporate
clients. correct answers sellers who pay more attention to the specific products they offer than to
the benefits and experiences produced by these products.
*When marketers look beyond the individual attributes of the products and services they sell and
instead orchestrate several services and products for their customers, they create*
marketing myopia.
brand experiences.
target markets.
exchange relationships. correct answers brand experiences.
*A market is a particular need or want that can be satisfied through an exchange.*
True
False correct answers False
*Marketing management is the art and science of choosing target markets and building profitable
relationships with them.*
True
False correct answers True
*What are the functions of a value proposition?*
Please select all answers that apply.
differentiates one brand from another
,promises benefits or values to the consumer
decreases cost to the consumer
identifies a target market
None of the above correct answers differentiates one brand from another
promises benefits or values to the consumer
*Customers will favour products that are available and highly affordable*
IS AN EXAMPLE OF A:
product concept
marketing concept
selling concept
production concept
societal marketing concept correct answers production concept
*Consumers will favour products that offer the most in quality, performance, and innovative
features*
IS AN EXAMPLE OF A:
product concept
marketing concept
selling concept
production concept
societal marketing concept correct answers product concept
*Consumers will not buy enough of the firm's products unless it undertakes a large-scale selling
and promotion effort.*
IS AN EXAMPLE OF A:
product concept
marketing concept
, selling concept
production concept
societal marketing concept correct answers selling concept
*Achieving organisational goals depends on knowing the needs and wants of target markets and
delivering the desired satisfactions better than competitors do*
IS AN EXAMPLE OF A:
product concept
marketing concept
selling concept
production concept
societal marketing concept correct answers ...
*Marketing decisions should consider consumers' wants, the company's requirements,
consumers' long-run interests, and society's long-run interests*
IS AN EXAMPLE OF A:
product concept
marketing concept
selling concept
production concept
societal marketing concept correct answers ...
*Customer-driven marketing works best when a clear need exists but customers do not know
what they want to meet that need*
True
False correct answers False
SOLUTIONS.
*What is the process by which companies create value for customers and build strong customer
relationships in order to capture value from customers in return?*
managing
profit building
selling
advertising
marketing correct answers marketing
*Marketing means different things to different people, and the different usage is confusing, and
misleading at times. The term "marketing" is best identified in today's business world with the
concept of:*
satisfying customer needs
making a sale
communication through advertising
maximising consumption
creating customer needs correct answers satisfying customer needs
*According to your text book, today's successful companies at all levels have one thing in
common - they have a strong __________ concept.*
product
production
marketing
selling correct answers marketing
*In outstanding marketing companies, people at all levels stay close to customers.*
True
,False correct answers True
*Marketing myopia refers to*
sellers who fail to see the intangible benefits of retaining poorly-performing products.
customers who base the majority of their purchases on cost rather than quality.
sellers who pay more attention to the specific products they offer than to the benefits and
experiences produced by these products.
suppliers who disregard the importance of customer service when working with corporate
clients. correct answers sellers who pay more attention to the specific products they offer than to
the benefits and experiences produced by these products.
*When marketers look beyond the individual attributes of the products and services they sell and
instead orchestrate several services and products for their customers, they create*
marketing myopia.
brand experiences.
target markets.
exchange relationships. correct answers brand experiences.
*A market is a particular need or want that can be satisfied through an exchange.*
True
False correct answers False
*Marketing management is the art and science of choosing target markets and building profitable
relationships with them.*
True
False correct answers True
*What are the functions of a value proposition?*
Please select all answers that apply.
differentiates one brand from another
,promises benefits or values to the consumer
decreases cost to the consumer
identifies a target market
None of the above correct answers differentiates one brand from another
promises benefits or values to the consumer
*Customers will favour products that are available and highly affordable*
IS AN EXAMPLE OF A:
product concept
marketing concept
selling concept
production concept
societal marketing concept correct answers production concept
*Consumers will favour products that offer the most in quality, performance, and innovative
features*
IS AN EXAMPLE OF A:
product concept
marketing concept
selling concept
production concept
societal marketing concept correct answers product concept
*Consumers will not buy enough of the firm's products unless it undertakes a large-scale selling
and promotion effort.*
IS AN EXAMPLE OF A:
product concept
marketing concept
, selling concept
production concept
societal marketing concept correct answers selling concept
*Achieving organisational goals depends on knowing the needs and wants of target markets and
delivering the desired satisfactions better than competitors do*
IS AN EXAMPLE OF A:
product concept
marketing concept
selling concept
production concept
societal marketing concept correct answers ...
*Marketing decisions should consider consumers' wants, the company's requirements,
consumers' long-run interests, and society's long-run interests*
IS AN EXAMPLE OF A:
product concept
marketing concept
selling concept
production concept
societal marketing concept correct answers ...
*Customer-driven marketing works best when a clear need exists but customers do not know
what they want to meet that need*
True
False correct answers False
