Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is the main difference between marketing and selling?
What is the main difference between marketing and selling?
- Marketing is applicable to services, while selling is applicable to goods
- Marketing is a long-term process, while selling is a short-term activity
- Marketing is only concerned with advertising, while selling involves direct interaction with customers
- Marketing focuses on customer needs and satisfaction, while selling focuses on product features and benefits (correct)
What are the major tools of promotion in marketing?
What are the major tools of promotion in marketing?
- Advertising, personal selling, sales promotion, and publicity (correct)
- Product placement, endorsements, celebrity marketing, and guerrilla marketing
- Public relations, direct marketing, sponsorship, and events
- Digital marketing, content marketing, influencer marketing, and social media marketing
What are the factors that can affect the price of a product?
What are the factors that can affect the price of a product?
- Technological advancements, environmental impact, ethical considerations, and industry standards
- Consumer preferences, brand image, distribution channels, and economic conditions
- Marketing budget, product features, market research, and cultural influences
- Cost of production, demand and supply, competition, and government regulations (correct)
What is the significance of marketing to the development of an economy?
What is the significance of marketing to the development of an economy?
Signup and view all the answers
How can products be classified in the context of marketing?
How can products be classified in the context of marketing?
Signup and view all the answers
