Marketing Concepts Quiz

Questions and Answers

How does marketing seek to achieve profit compared to selling?

Marketing seeks profit through consumer satisfaction

What is the difference between selling and marketing based on functional perception?

Selling is based on disposing accumulated products, while marketing is based on avoiding product accumulation

What is the relationship between sales activity and production activity in modern marketing concept?

Marketing activity precedes production activity and follows it

What is the primary focus of marketing according to the given text?

<p>The primary focus of marketing is to satisfy consumer needs and wants</p> Signup and view all the answers

According to Philip Kotler, what is marketing?

<p>Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others</p> Signup and view all the answers

Study Notes

Marketing vs. Selling

Marketing seeks to achieve profit by creating and maintaining mutually beneficial relationships with customers, whereas selling focuses on persuading customers to buy a product.
Marketing is a broader concept that encompasses selling, but also includes understanding customer needs, creating products that meet those needs, and building customer loyalty.

Functional Perception

Selling is seen as a transactional function, focused on exchanging a product for payment.
Marketing is seen as a relational function, focused on building and maintaining relationships with customers.

Sales and Production Activity

In modern marketing, sales activity is closely tied to production activity, with the goal of creating products that meet customer needs and wants.
This integration ensures that products are produced in response to customer demand, rather than simply pushing products onto the market.

Primary Focus of Marketing

The primary focus of marketing is to create and maintain customer satisfaction, which leads to long-term profitability.

Philip Kotler's Definition of Marketing

According to Philip Kotler, marketing is "a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others."