12 Questions
What is the starting point of marketing according to the text?
Physical needs
Which term refers to desired products that are not essential for survival?
Wants
What is the term used when a customer is willing and able to buy a need?
Demands
According to Maslow's Hierarchy of Needs, which level includes job security and physical safety?
Safety needs
Which category includes achievement, mastery, and recognition in Maslow's Hierarchy of Needs?
Self-esteem needs
What type of marketing involves hiring a famous person to endorse a brand's product or service?
Celebrity marketing
What is the key difference between goods and services?
Goods are tangible products, while services are intangible products
What is the key factor in deciding which product to buy and where to buy?
Customer value
What is the main idea behind marketing myopia?
Too much focus on the product to the point of losing sight of underlying customer needs
What is the difference between a satisfied and a dissatisfied customer?
A satisfied customer is one who feels the product met their expectations, while a dissatisfied customer feels the product did not meet their expectations
What is the primary focus of Total Quality Management (TQM)?
Continuous improvement of the company's products, services and marketing process
What is the purpose of market segmentation?
To aggregate prospective buyers into groups or segments for marketing purposes
Test your knowledge on marketing fundamentals, including the social and managerial processes, celebrity marketing, and customer needs as stated in Kotler & Armstrong (2008). Explore topics such as advertising, public relations, promotions, and sales within the marketing umbrella.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
