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CH 1 QUESTIONS - BUS 204 Chapter 1An Overview of Marketing...

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BUS 204 Chapter 1—An 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: 3. Which of the following occurs when people give up something in order to receive something that they would rather have? 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
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