Introduction to Marketing: What is Marketing?
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Questions and Answers

What is the definition of marketing?

  • The process of controlling access to products and services
  • The process of only obtaining what individuals and groups need and want
  • The process of selling products to consumers
  • The process of creating and exchanging value with others (correct)

    • What is customer value?

  • The cost of a product or service to the customer
  • The physical features of a product or service
  • The perceived worth of a product or service to the customer (correct)
  • The benefits of a product or service to the customer

    • What are the different buying roles of consumers?

  • Seller, influencer, decision-maker, buyer, user, payer, gatekeeper
  • Innovator, influencer, decider, buyer, user, payer, gatekeeper
  • Initiator, influencer, decider, buyer, payer, user, gatekeeper (correct)
  • Initiator, influencer, decider, buyer, user, payer, gatekeeper

    • What does market orientation focus on?

    <p>Identifying consumer needs and desires to develop new products</p> Signup and view all the answers

    What does marketing involve applications in?

    <p>Physical products, services, retail, experiences, events, film, music, places</p> Signup and view all the answers

    What is the main purpose of marketing?

    <p>To satisfy needs and wants by creating and exchanging value with others</p> Signup and view all the answers

    What is the primary focus of customer centricity?

    <p>Putting the customer at the center of everything</p> Signup and view all the answers

    Which field of influence focuses on how communication passes through opinion leaders?

    <p>Sociological influences</p> Signup and view all the answers

    What is the main difference between sales and marketing in terms of customer satisfaction?

    <p>Marketing focuses on long-term satisfaction while sales focuses on short-term satisfaction</p> Signup and view all the answers

    Which field of influence is associated with theories of income distribution, scale of operation, and competition?

    <p>Industrial economics influences</p> Signup and view all the answers

    What does interfunctional coordination require in an organization?

    <p>Functions to work together for long-term profit growth</p> Signup and view all the answers

    In marketing, what does 'enhancing a firm’s relationships with its customers' refer to?

    <p>Building and improving connections with customers</p> Signup and view all the answers

    Which influence is associated with qualitative approaches in researching consumer behavior?

    <p>Anthropological influences</p> Signup and view all the answers

    What does competitor orientation involve understanding?

    <p>Long-term capabilities and strategies of competitors</p> Signup and view all the answers

    What is the main focus of computer science influences in marketing?

    <p>Digitization, recommendation systems, apps</p> Signup and view all the answers

    What does customer centricity discourage businesses from doing?

    <p>Pleasing all customers equally</p> Signup and view all the answers

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