10 Questions
What is the purpose of business according to Dr. Hassan Sherif?
To create and maintain satisfied, profitable customers
According to Peter Drucker, who determines business success?
The customer
What is the definition of marketing as per Dr. Hassan Sherif?
A societal process of obtaining and exchanging products and value
What does the concept of 'needs' refer to in the context of marketing?
A state of felt deprivation
What do 'wants' represent in the context of marketing?
How people communicate their needs
What is the difference between needs and wants according to Dr. Hassan Sherif?
Needs are essential for survival, such as food and shelter, while wants are desires for goods or services.
What is the definition of a product according to Dr. Hassan Sherif?
A product is anything that can be offered to satisfy a need or a want.
What is the act of obtaining a desired object from someone by offering something in return called?
Exchange
What does customer value represent in the context of marketing?
The difference between the benefits gained from owning/using a product and the cost of obtaining it.
Why should managers be concerned about customer loyalty according to Dr. Hassan Sherif?
Customer loyalty leads to increased profit, lower marketing and sales costs, and increased partnership.
Test your knowledge of Chapter 1: Introduction to Marketing for Hospitality and Tourism, as taught by Dr. Hassan Sherif. Explore concepts such as customer orientation and the business perspective from the customer's point of view.
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