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Questions and Answers
What is the primary focus of marketing?
What is the primary focus of marketing?
- Minimizing production costs regardless of customer preferences
- Creating innovative products without considering customer feedback
- Understanding and satisfying customer needs (correct)
- Maximizing profits through aggressive sales tactics
What is the main difference between marketing and selling?
What is the main difference between marketing and selling?
- Marketing is only applicable to services, while selling is for tangible products
- Marketing and selling are essentially the same concept
- Marketing involves personal selling, while selling is more about advertising
- Marketing focuses on customer needs and satisfaction, while selling is primarily concerned with pushing products (correct)
What does the scope of marketing encompass?
What does the scope of marketing encompass?
- Identifying customer needs, creating products, and delivering value (correct)
- Minimizing competition through monopolistic practices
- Focusing solely on short-term sales without considering long-term customer relationships
- Maximizing shareholder wealth through aggressive advertising
