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10 Questions

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Marketing Fundamentals

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Questions and Answers

What should a manager do before deciding to produce and sell a bike?

Predict Designs

Analyze Needs (correct)

Provide Service

Estimate Price

Why is marketing important to every consumer?

It is only important for producers

It has no impact on our daily lives

It only benefits firms

It affects innovation and standard of living (correct)

What is marketing according to the definition?

Performance of activities that accomplish objectives from producer to customer or client (correct)

Anticipating customer or client needs and providing services

Performance of activities that accomplish objectives from customer to producer

Directing a flow of need-satisfying goods and services from customer to producer

By the end of this lesson, students will be able to:

Understand the basics of marketing Signup and view all the answers

What is the purpose of the self-assessment at the end of the lesson?

To assess the student's understanding of the lesson Signup and view all the answers

What is the main objective of marketing?

To satisfy customer needs and wants Signup and view all the answers

What is the key difference between marketing and macro-marketing?

Marketing focuses on individual customers, while macro-marketing focuses on society as a whole Signup and view all the answers

What is the primary function of intermediaries in marketing?

To facilitate the exchange of goods and services Signup and view all the answers

What is the term for the process of creating standardized products?

Standardization and grading Signup and view all the answers

What is the main focus of the marketing functions?