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Mkt Mgmt Chapter 1 Midterm Questions Database--10-10-06

Mkt Mgmt Chapter 1 Midterm Questions Database--10-10-06 -...

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Name: __________________________ Date: _____________ 1. Customer satisfaction is the extent to which a firm fulfills a consumer's: A) needs. B) desires. C) expectations. D) only A and B above. E) all of the above. 2. According to the text: 3. Marketing and production combine to provide five economic utilities. Which of the following is NOT one of these five? 4. Having the right to use or consume a product is: 5. Which of the following statements about economic utility is NOT true? A) Task utility is provided when someone performs a task for someone else. B) Place utility means having a product available where consumers want it. C) Possession utility means having the right to use or consume the product. D) Time utility means getting a new product onto Page 1
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the market in as short a time as possible. E) Form utility means making something tangible. 6. Which of the following statements about marketing is FALSE? 7. Marketing is: 8. Looking at marketing as a set of activities focuses on 9. Micro-marketing: A) tries to accomplish a company's objectives by anticipating customers' needs and trying to satisfy them. B) begins with the production process. C) involves persuading customers to buy your product. D) is a social process involving all producers, middlemen, and consumers. E) focuses on how the whole macro-marketing system works. Page 2
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