LESSON 1 QUIZ Flashcards
(15 cards)
Best described as the goods or service provided to meet a specific customer’s need?
ANSWER: Product
Whereby a business sets the amount at which it will sell its products and services, and may be part of the business marketing plan, and is a fundamental aspect of financial modeling and is one of the four Ps of the marketing mix?
ANSWER: Price
Encompasses marketing communication strategies and techniques such as advertising, sales promotion, special offers and public relations. The statement exemplifies which among the succeeding?
ANSWER: Promotion
Referred to as tangible and a physical object that can be perceived by touch such as buildings, vehicles or gadgets.
ANSWER: Product
The human wants that are backed by buying power. The statement is explained which of the following?
ANSWER: Demand
Said to be the basic requirements such as food, shelter, clothing, water and safety, where human survival is not possible without fulfilling such.
ANSWER: Need
Referred as the desire to satisfy needs in a specific way that are culturally and socially influenced.
ANSWER: Needs (Wants dapat)
Which stage in the market origins where there’s a shortage happening.
ANSWER: Selling Orientation
A concept often said as the activity, set of institutions, processes for creating, communicating, delivering and exchanging offers that have value for customers, clients, partners, and society at large?
ANSWER: Marketing
Defined as the difference between consumers’ willingness to pay for a commodity and the actual price paid by them, or the equilibrium price.
ANSWER: Market Orientation
People are obliged to give back to others the form of behavior, gift, or service that they received first. This theory is gleaned as which among the choices?
ANSWER: Reciprocity
A market system is the network of buyers, sellers and other actors that come together to trade in a given product or service. Which among the following is NOT included to the market system?
ANSWER: Money
Referred as a Sales/Marketing enablement platform that allows you to record short, customized product demos that you can send to prospects, in which the product allows to tailor the demo experience based on who you are sending it to and what the prospect deems is important.
ANSWER: Consensus
ABC company designs a product to target a specific client’s needs or wants. The statement refers which economic utility as to how well a product or service meets the customer’s needs.
ANSWER: Form Utility
Which among the following is TRUE in the following statements?
ANSWER: A. Because of the many functions and activities that are part of marketing, it is easy to develop a definition that effectively describes it.
