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Unformatted text preview: Principles of Marketing: MKT 201: Chapter one: Defining Marketing and the Marketing Process: Work sheet: Section I: Multiple Choice Questions: 1. What is the definition of marketing? a. the process by which products are developed and produced b. selling products that the company wants to sell c. the process of designing new products and selling them d. the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return e. coordinating production assembly lines 2. What is the first step of the marketing process? a. setting the advertising budget b. capturing value from customers c. ensuring that the sales force can sell the company's products d. understanding the marketplace and customer needs and wants e. deciding what products to produce and sell 3. What distinguishes a want from a demand? a. a demand is the ability to buy a product b. a want is the ability to buy a product c. a demand is the state of felt deprivation d. a want is the willingness to buy a product 4. What is marketing myopia? a. ensuring that customer needs and wants are considered before products are developed b. putting customer satisfaction above a company's desire to produce a certain product c. paying more attention to the products a company offers than to the benefits produced by these products d. performing marketing research regularly in order to understand customer needs e. focusing on customer value 5. What is a market? a. a physical place where products are bought b. any place were buyers and sellers come together c. a group of products that are similar to each other d. a chain of organizations such as manufacturers, distributors, and retailers e. the set of actual and potential buyers of a product 1 6. Marketing management may be defined as ____________. a. the process of understanding customer wants and needs b. the art and science of choosing target markets and building profitable relationships with them c. the process of planning and coordinating the production and distribution of goods and services d. combining company goals with profit objectives in order to ensure maximum revenue e. managing all aspects of advertising and selling products...
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This note was uploaded on 01/29/2012 for the course BUSINESS A bus102 taught by Professor Samia during the Spring '11 term at MSA University.
- Spring '11