Business Concepts Quiz Question
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Business Concepts Quiz Question

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@ProfoundLyric

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Questions and Answers

What makes the production concept relevant for a business?

  • Consumers are not sensitive to price
  • Consumers are interested in obtaining the product that offers them the highest quality, best performance, and most features (correct)
  • Consumers have changing needs and insist they be satisfied
  • Consumers are more interested in product variation

    • Where do marketing and consumer behavior stem from?

  • Selling concept
  • Production concept
  • Product concept
  • Societal concept (correct)

    • Which scenario aligns with the societal marketing concept?

  • Marketers avoid featuring unreasonably slim females in advertising campaigns (correct)
  • Food marketers promote overeating to young people
  • Fast food restaurants advertise high-fat, low-nutrient offerings
  • Marketers feature professional athletes in liquor advertisements

    • What does the price component include in the marketing mix?

    <p>The cost customers pay to obtain the product</p> Signup and view all the answers

    When is the production concept viable for a business?

    <p>When consumers are highly price-sensitive</p> Signup and view all the answers

    How does the marketing concept differ from the production concept?

    <p>Marketing focuses on meeting consumer needs, while production focuses on efficiency</p> Signup and view all the answers

    What concept in business assumes that consumers are mostly interested in product availability at low prices?

    <p>Marketing</p> Signup and view all the answers

    During historical periods when demand exceeded supply, businesses adopted which concept?

    <p>Production</p> Signup and view all the answers

    Which of the following is considered an example of consumer behavior?

    <p>All of the above</p> Signup and view all the answers

    The selling concept focuses on the needs of the ________ and on existing products, while the marketing concept focuses on the needs of the ________.

    <p>Seller; buyer</p> Signup and view all the answers

    Socially responsible activities can result in ________.

    <p>All of the above</p> Signup and view all the answers

    What does 'positioning' refer to in marketing?

    <p>Placement</p> Signup and view all the answers

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