………means the classification of standardized product into certain well-defined classes or groups.”ģ1. This company is well known for Technology innovation, Great value and act as a game changer.ģ0.

Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need is called a(n):Ģ8. “Marketing is the last step in the chain of commerce where a buyer exchanges cash for a seller’s good or service, or the activity of trying to bring this about.”Ģ7. Marketing is the activity, set of institutions & processes for creating, communicating, delivering & exchanging offerings that have value for customers, clients, partners & societyĭ.

Marketing is to ensure that the product is easily & effectively moved from the point of production to the target market & ensures that the product can be easily accessed by customers.”Ĭ. These different activities are known as marketing.”ī. “The delivery of Goods& Services from producers to their ultimate consumers or users includes many different activities. Which of the following statements is the most correct statement?Ī. Marketing is the activity, set of institutions & processes for creating, communicating, delivering & exchanging offerings that have value for customers, clients, partners & society at large.Ģ6. Marketing is a societal process by which individuals & groups obtain what they need & want through creating offering & freely exchanging products & services of value with others.Ĭ. Marketing is the process by which companies create value for customers & build strong customer relationships in order to capture value from customers in return.ī. Definition of Marketing given by Philip Kotler:Ī. Select an appropriate definition of WantĢ5. The D.A.R.T highlights this aspect in a vivid manner.Ģ3. It up holds the importance of customer in the whole value creation process. …………is the major objective of any marketing activity in the world because marketing completes with the real sale of goods and services bought or acquired by the seller or when intermediary has been affected.Ģ2. Marketing is both an “art” and a “science” there is constant tension between the formulated side of marketing and the _ side.Ģ1. Today, marketing must be understood in a new sense that can be characterized as:Ģ0. Marketers often use the term _ to cover various groupings of customers.ġ9. Marketing is an organizational function includes the 4Psġ8. Improving the quality of life for consumersĭ. An organizational function and a set of process for creating, communicating and delivering, value to customers and that benefit the organization.ī. the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer valueġ7. monitoring the profitability of the company’s products and servicesĭ.

developing marketing strategies to move the company forwardĬ. ………………… defined as all psychological, social and physical behaviour of potential customers as they become aware of, evaluate, purchase, consume and tell others about the product and servicesġ5. A philosophy that stresses customer value and satisfaction.ġ4. Sales Planning, Strategy and Implementationĭ. New product needs ideas, Developments, concepts and improvements.Ĭ. Advertising, Sales Promotion, Publicity and Public Relational activitiesī. ………….is the father of Modern Marketing.Ī. “Get out production, cut the price”- Philosophy by Henry Ford is an example of…ġ2.

This of the following is not a type of Marketing Concept:ġ1. is want for specific product backed by on ability to payġ0. ……….are the form of human needs take as shaped by culture & individual personality.ĩ. Involves transfer of ownership of the goodsĨ. Involves purchase from various sources & assembled at one place – involves creation & maintenance of the stock of goods purchased & …………. “Marketing is the activity, set of ……………… & processes for creating, communicating, delivering & …………… offerings that have value for customers, clients, partners & society.”ħ. ………… model is highly firm centric, where the firm believes that the competitive edge lies in its ability to innovate.Ħ. It’s a combination of quality, service & priceĥ. is the act of obtaining a desired object from someone by offering something in return.Ĥ. “Many people want BMW, only few are able to buy” this is an example of …ģ. “The concept of the marketing mix was developed by ‐‐‐‐‐‐‐‐‐.Ģ.

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