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Unformatted text preview: BUS 204 Chapter 1An Overview of Marketing 1. One facet of marketing is that it is: a. an approach that focuses on maximizing sales b. a short-term oriented approach to profit maximization c. an approach that requires diversity d. a philosophy that stresses customer satisfaction e. independent of value creation 2. The American Marketing Association's definition of marketing: a. is limited to promotional activities b. focuses on the value of empowerment, teamwork, and customer value c. shows how marketing benefits the marketer d. relies on the synergy created by exchange e. includes creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large. 3. Which of the following occurs when people give up something in order to receive something that they would rather have? a. Exchange b. Synergy c. Transformation d. Leveraging e. Reciprocity 4. For an exchange to take place: a. there must be at least two parties involved b. money must be used in the transaction c. each party must feel obligated to accept the offer d. at least one party must have something of value that the other party desires e. neither party must communicate with the other 5. Indonesian logging companies harvest the rain forests for timber and assume that a market exists for their products. The typical Indonesian logging company has a(n) _____ orientation....
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This note was uploaded on 02/16/2012 for the course MKTG 3310 taught by Professor Bandopadia during the Spring '12 term at Lamar University.
- Spring '12