Principles of Marketing Study Set 8

Business

Quiz 1 :

What Is Marketing

Quiz 1 :

What Is Marketing

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The focus of marketing has changed from a mix of product,price,place,and promotion to an emphasis on creating,communicating,delivering,and exchanging value.
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True False
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True

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Successful communication in today's marketplace assumes dialog in which consumers can interact directly with the company.
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True False
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True

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Which element of the marketing mix would involve delivering offering to a retail store where they may be purchased?
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Multiple Choice
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Answer:

D

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Value is what the customer gets out of the purchase and consumption of the company's offering.
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Tom goes to the department store and buys some detergent.Which component of marketing does this describe?
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Marketing is defined by the American Marketing Association as 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.
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The value of an offering is determined by the company marketing it.
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According to the AMA's definition of marketing,_____ is a component of marketing which involves describing offerings and learning from customers.
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In marketing,_____ involves collaboration with suppliers and customers in order to generate offerings of value to customers.
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The determination of value will vary for each customer.
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Market-oriented firms seek to satisfy customers' needs at the expense of making a profit.
True False
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The four Ps fail to capture all the activities of marketing.
True False
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Which element of the marketing mix would include advertising and sales?
Multiple Choice
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Which of the following describes the personal value equation of a customer?
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The marketing concept requires that marketers seek to satisfy customer wants and needs.
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According to the American Marketing Association,marketing consists of five components.
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Exchanging involves getting offerings to the consumer in a way that optimizes value.
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Which is the correct association between the AMA's definition of marketing and the corresponding element of the marketing mix?
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One of the components of marketing involves the process of collaborating with suppliers and customers to create offerings that have value.
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The Elliott Corporation decides to exhibit its products in an industry trade show.Which marketing activity is the company performing?
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