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Modern Marketing Concepts

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Questions and Answers

What is the primary goal of marketing?

To maximize profits for the organization

To explore new markets

To manage customer relationships

To create and deliver value to customers (correct)

Which of the following best describes the definition of marketing provided in the text?

The process of promoting and selling products or services

The meeting of the minds between the seller and the buyer to satisfy human needs and wants

The art and science of finding the market, getting and retaining customers to attain profitable operations

All of the above (correct)

Which of the following is a key aspect of marketing?

Exploring new markets

Creating tangible products or services

Getting and retaining customers

All of the above (correct)

What does the text state is the ultimate goal of marketing?

To deliver customer satisfaction at a profit Signup and view all the answers

What is the first step in the 4-step marketing approach?

Brand awareness Signup and view all the answers

Which of the following is NOT listed as a reason why marketing goals are essential?

They ensure immediate profitability Signup and view all the answers

According to the 4-step marketing approach, what should businesses aim for after allowing their target market to experience their product or service?

Repeat purchase Signup and view all the answers

Which of the following is NOT listed as one of the marketing activities mentioned in the text?

Conducting market research Signup and view all the answers

What is the purpose of the 'Product and Services Availability' step in the 4-step marketing approach?

To make products available based on the target market's purchase patterns Signup and view all the answers

Based on the information provided, what is the primary objective of marketing?

To attract new customers and retain existing ones Signup and view all the answers