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Marketing Fundamentals Quiz

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Questions and Answers

What is the difference between needs and desires?

Needs are the materialization of the will to satisfy a desire, while desires are basic human requirements.

Needs are quantified wants, while desires are basic human requirements.

Needs are basic human requirements, while desires are the materialization of the will to satisfy a need through a specific product. (correct)

Needs and desires are the same thing.

What are the different types of needs?

Stated, real, and unstated

Delight or unexpected, and secret (correct)

Rational and emotional

Geographic, demographic, and psychographic

What is exchange?

The act of obtaining a desired object from someone by stealing.

The act of obtaining a desired object from someone by force

The act of obtaining a desired object from someone by offering something in return. (correct)

The act of obtaining a desired object from someone without offering anything in return.

What is segmentation?

The act of dividing a market into distinct groups of customers with different characteristics, needs, and behaviors. Signup and view all the answers

What are the different methods used for segmentation?

Geographic, demographic, and psychographic Signup and view all the answers

What is targeting?

The act of evaluating each segment's attractiveness for the company and selecting one or more segments to enter. Signup and view all the answers

What is synchro marketing?

The act of finding ways to alter the time pattern of demand through flexible pricing, promotion, and other incentives. Signup and view all the answers

What is demarketing?

The act of finding ways to reduce demand temporarily or permanently, such as through general marketing and reducing promotion and service or selective demarketing. Signup and view all the answers

What are rational needs based on?

Objective measures. Signup and view all the answers

What are emotional needs based on?

Personal, subjective criteria Signup and view all the answers

Study Notes

Marketers cannot create needs, only desires.
Needs are basic human requirements, desires are the materialization of the will to satisfy a need through a specific product, and demand is quantified desire or want for a specific product based on the ability to pay.
There are different types of needs, including stated, real, unstated, delight or unexpected, and secret.
Rational needs are based on objective measures, while emotional needs are based on personal, subjective criteria.
Exchange is the act of obtaining a desired object from someone by offering something in return.
Segmentation is dividing a market into distinct groups of customers with different characteristics, needs, and behaviors.
Geographic, demographic, psychographic, and behavioral segmentation are different methods used for segmentation.
Targeting involves evaluating each segment's attractiveness for the company and selecting one or more segments to enter.
Synchro marketing involves finding ways to alter the time pattern of demand through flexible pricing, promotion, and other incentives.
Demarketing involves finding ways to reduce demand temporarily or permanently, such as through general marketing and reducing promotion and service or selective demarketing.

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Description

Are you interested in marketing and consumer behavior? Test your knowledge with this quiz that covers topics such as needs, desires, segmentation, targeting, and more. Sharpen your skills on the different types of needs and methods used for market segmentation. See how much you know about synchro and demarketing and their impact on demand. Impress your friends and colleagues with your marketing expertise by acing this quiz!