1. Which of these is true about marketing?
A. Marketing is used to promote the product and services
B. Marketing is concerned about the sales only
C. Marketing is 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.
D. Marketing considers only the needs of the organization and not
the society
Answer: C) Marketing is 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.
Explanation:
Marketing is 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.
2. Which one is not a part of the 4 Ps?
A. Product
B. People
C. Price
D. Place
Answer: B) People
Explanation:
People are a part of the 7 Ps. The concept of the 7 Ps is used in service
marketing.
3. Who is the Father of Modern Marketing?
A. Philip Kotler
B. Peter F Drucker
, C. Abraham Maslow
D. Raymond Kroc
Answer: A) Philip Kotler
Explanation:
Philip Kotler is the father of modern marketing. He is an American
marketing author and professor emeritus.
4. ____defined marketing as the science and art of exploring,
creating, and delivering value to satisfy the needs of a target
market at a profit?
A. Steve Jobs
B. Philip Kotler
C. Peter Drucker
D. Abraham Maslow
Answer: B) Philip Kotler
Explanation:
Philip Kotler is the father of modern marketing. He is an American
marketing author and professor emeritus.
5. The term "Marketing" refers to?
A. Promotion of the product
B. Focusing on sales and profit
C. Strategizing and implementing the organization process
D. Set of activities to deliver customer value and satisfaction
Answer: D) Set of activities to deliver customer value and satisfaction
Explanation:
The latest idea of marketing is that it is a set of activities to deliver
customer value and satisfaction. There were different phases when
marketing was considered more about production and selling.
,6. ____ is the key term in AMA's definition of marketing?
A. Sales
B. Promotion
C. Value
D. Profit
Answer: C) Value
Explanation:
In its standard definition of marketing, the American Marketing
Association focuses on Value to the customers.
7. Why must the marketers monitor the competitor's activities?
A. The competitor may destroy the organization
B. The competitor may threaten the monopoly position of the
company
C. New offerings of a competitor may need alterations in one or
more components of the company's marketing mix
D. The competitor may be violating the law to gain an advantage
Answer: C) New offerings of a competitor may need alterations in one
or more components of the company's marketing mix
Explanation:
Monitoring the competitor's activities helps the company to modify its
plans and activities to remain profitable and sustained in the market.
8. Different price points for a different level of quality for a
company's related products is a part of which pricing strategy?
A. Product line pricing
B. Incremental pricing
C. Optional product pricing
D. By-product pricing
, Answer: A) Product line pricing
Explanation:
In product line pricing the company adds features to the base product
and charges more for the features, as compared to the base product.
9. In today's time marketing must be understood and
developed as?
A. Getting the first mover’s advantage
B. Creating value for the customers
C. Pushing for higher sales and profits
D. Creating innovative products
Answer: B) Creating value for the customers
Explanation:
The concept of marketing has evolved from production to creating
value for the customers. Today the customers don't buy the product
simply because they are available, but if they add value to the
customer.
10. Which one of these is an appropriate definition of "want"?
A. The desires of consumers
B. Needs related to society
C. Basic human needs
D. Needs directed to the product
Answer: D) Needs directed to the product
Explanation:
When a buyer sees a gap or problem it is a need. Only when the buyer
decides that his need can be fulfilled by a particular product does it
become a want.
A. Marketing is used to promote the product and services
B. Marketing is concerned about the sales only
C. Marketing is 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.
D. Marketing considers only the needs of the organization and not
the society
Answer: C) Marketing is 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.
Explanation:
Marketing is 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.
2. Which one is not a part of the 4 Ps?
A. Product
B. People
C. Price
D. Place
Answer: B) People
Explanation:
People are a part of the 7 Ps. The concept of the 7 Ps is used in service
marketing.
3. Who is the Father of Modern Marketing?
A. Philip Kotler
B. Peter F Drucker
, C. Abraham Maslow
D. Raymond Kroc
Answer: A) Philip Kotler
Explanation:
Philip Kotler is the father of modern marketing. He is an American
marketing author and professor emeritus.
4. ____defined marketing as the science and art of exploring,
creating, and delivering value to satisfy the needs of a target
market at a profit?
A. Steve Jobs
B. Philip Kotler
C. Peter Drucker
D. Abraham Maslow
Answer: B) Philip Kotler
Explanation:
Philip Kotler is the father of modern marketing. He is an American
marketing author and professor emeritus.
5. The term "Marketing" refers to?
A. Promotion of the product
B. Focusing on sales and profit
C. Strategizing and implementing the organization process
D. Set of activities to deliver customer value and satisfaction
Answer: D) Set of activities to deliver customer value and satisfaction
Explanation:
The latest idea of marketing is that it is a set of activities to deliver
customer value and satisfaction. There were different phases when
marketing was considered more about production and selling.
,6. ____ is the key term in AMA's definition of marketing?
A. Sales
B. Promotion
C. Value
D. Profit
Answer: C) Value
Explanation:
In its standard definition of marketing, the American Marketing
Association focuses on Value to the customers.
7. Why must the marketers monitor the competitor's activities?
A. The competitor may destroy the organization
B. The competitor may threaten the monopoly position of the
company
C. New offerings of a competitor may need alterations in one or
more components of the company's marketing mix
D. The competitor may be violating the law to gain an advantage
Answer: C) New offerings of a competitor may need alterations in one
or more components of the company's marketing mix
Explanation:
Monitoring the competitor's activities helps the company to modify its
plans and activities to remain profitable and sustained in the market.
8. Different price points for a different level of quality for a
company's related products is a part of which pricing strategy?
A. Product line pricing
B. Incremental pricing
C. Optional product pricing
D. By-product pricing
, Answer: A) Product line pricing
Explanation:
In product line pricing the company adds features to the base product
and charges more for the features, as compared to the base product.
9. In today's time marketing must be understood and
developed as?
A. Getting the first mover’s advantage
B. Creating value for the customers
C. Pushing for higher sales and profits
D. Creating innovative products
Answer: B) Creating value for the customers
Explanation:
The concept of marketing has evolved from production to creating
value for the customers. Today the customers don't buy the product
simply because they are available, but if they add value to the
customer.
10. Which one of these is an appropriate definition of "want"?
A. The desires of consumers
B. Needs related to society
C. Basic human needs
D. Needs directed to the product
Answer: D) Needs directed to the product
Explanation:
When a buyer sees a gap or problem it is a need. Only when the buyer
decides that his need can be fulfilled by a particular product does it
become a want.
