What are the two central concerns of marketing?

discovering and satisfying needs

establishing market share and making profits

holding down costs and increasing profits

finding customers and making profits

discovering and satisfying needs

What does 'Technology' refers to?

the inventions or innovations from applied science or engineering research

any device or process for which there is no substitute

the inventions or innovations from applied science that are used to generate a profit

the inventions or innovations from applied science or engineering research

ideas or concepts that will one day be translated into useable devices, mechanisms, or processes

Which of the following statements accurately distinguishes between laws and ethics?

ethics deal with personal and moral principles whereas laws are society's values and are enforceable in the courts.

laws reflect the beliefs of the majority and ethics reflect the beliefs of smaller segments of society.

ethics deal with internal personal issues, and laws deal with external social issues.

ethics deal with personal and moral principles whereas laws are society's values and are enforceable in the courts.

there is no significant difference--these terms can be used interchangeably.

Principles Of Marketing Quiz Questions And Answers

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Hey, check out this incredible 'Principles of marketing quiz'. Here, you'll get the chance to test out how well you know the things that make a marketing strategy work. A good marketing strategy should put in mind the place, price, product, and promotion that is perfect for the business. Once the marketing strategy is designed the chances of attracting new clients increase by the day. Play this quiz and increase your understanding of this study.

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Principles Of Marketing Quiz Questions And Answers

The activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders and society at large is referred to as ____________.

What are the two central concerns of marketing?

The idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals reflects the ____________.

One of the more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a ______________.

The first objective in marketing is to discover consumer ___________.

Organizations that develop similar offerings, when grouped together, create a/an _____________.

The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself is referred to as ______________.

The marketing strategy of developing new products and selling them in new markets is referred to as _______________.

What does 'Technology' refers to?

The description of a population according to selected characteristics such as age, gender, ethnicity, income, and occupation is referred to as ___________.

Which of the following statements accurately distinguishes between laws and ethics?

The idea that organizations are part of a larger society and are accountable to that society for their actions is referred to as ______________.

A favorable attitude toward and consistent purchase of a single brand over time is referred to as _____________.

Another name for the analysis of consumer lifestyle is ________________.

There are five stages in the purchase decision process. What is the first stage?

People to whom an individual looks as a basis for self-appraisal or as a source of personal standards are referred to as __________.

The monetary value of all goods and services produced in a country during one year is referred to as _______________.

The process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions is referred to as _______________.

Changing the place an offering occupies in consumers' minds relative to competitive products is referred to as _____________.

The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as _________________.

A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or something else of value is referred to as _______________.

What is the term used to refer to intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value?

During the introduction stage of the product life cycle, a/an ________may be used. This pricing strategy charges a high price to recoup the costs of product development.

Any container in which a product is offered for sale and on which information is communicated is referred to as __________.

Any word, device (design, sound, shape, or color), or a combination of these used to distinguish a seller's goods or service is referred to as a _________.

The total expense incurred by a firm in producing and marketing a product; the sum of fixed cost and variable cost, is referred to as _____________.

The ratio of perceived benefits to price is referred to as ________________.

Setting prices a few dollars or cents under an even number is referred to as

A/an ______exists when producers and ultimate consumers deal one on one with each other.

A non personal, indirectly paid presentation of an organization, product, or service that can take the form of a news story, editorial, or product announcement is referred to as

Directing the promotional mix at ultimate consumers to encourage them to ask retailers for the product is referred to as a ___________.

Sales promotions that require participants to submit some kind of entry form but are purely games of chance requiring no analytical or creative effort by the consumer are referred to as

The number of different people or households exposed to an advertisement is referred to as

The cost of reaching 1000 individuals or households with the advertising message in a given medium is referred to as

When Allyn went to get his newspaper, he found the paper in a plastic bag along with a box containing one dose of Alka-Seltzer Heartburn Relief medication. In this example, which type of sales promotion is Alka-Seltzer using?