Podcast
Questions and Answers
What is the key difference between goods and services?
What is the key difference between goods and services?
- Goods are produced while services are consumed
- Goods can be stored while services cannot be stored
- Goods are physical while services are virtual
- Goods are tangible products while services are intangible products (correct)
What is the main idea behind the concept of marketing myopia?
What is the main idea behind the concept of marketing myopia?
- Too much focus on the product to the point of losing sight of underlying customer needs (correct)
- Focusing too much on marketing tactics and not enough on the product
- Ignoring the competition and only focusing on one's own products
- Overemphasizing the importance of market segmentation
What is the primary goal of Total Quality Management (TQM)?
What is the primary goal of Total Quality Management (TQM)?
- To ensure customer satisfaction with the company's offerings
- To maximize profit for the company
- To improve the company's marketing processes
- To continuously improve the company's products, services and marketing processes (correct)
What is the relationship between customer value and customer satisfaction?
What is the relationship between customer value and customer satisfaction?
How do the 4Ps and 7Ps marketing mixes differ?
How do the 4Ps and 7Ps marketing mixes differ?
What is the primary purpose of market segmentation?
What is the primary purpose of market segmentation?
Which of the following best describes the starting point of marketing?
Which of the following best describes the starting point of marketing?
What is the primary difference between needs and wants?
What is the primary difference between needs and wants?
Which of the following is NOT a component of the marketing umbrella?
Which of the following is NOT a component of the marketing umbrella?
According to Maslow's Hierarchy of Needs, which of the following needs must be satisfied first?
According to Maslow's Hierarchy of Needs, which of the following needs must be satisfied first?
What is the definition of a demand in marketing?
What is the definition of a demand in marketing?
Which of the following is an example of celebrity marketing?
Which of the following is an example of celebrity marketing?
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