Optometry Marketing 3rd Year

Questions and Answers

Which of the following best describes marketing?

A one-time transaction between buyers and sellers.

An exclusive focus on advertising and promotion.

A method to maximize profits without considering customer needs.

A social and managerial process to obtain needs and wants. (correct)

Human demands are defined as wants that are not backed by buying power.

False

What are the two actions a person might take when a need is not satisfied?

Look for an object that will satisfy it or try to reduce the need.

Marketing is about generating _________ at a profit.

customer value Signup and view all the answers

Match the following terms with their definitions:

Human Needs = State of felt deprivation Human Wants = Needs directed to specific objects influenced by culture Demands = Wants backed by buying power Marketing Offering = Combination of products, services, and experiences offered to satisfy needs Signup and view all the answers

Which of the following is NOT an objective of marketing?

To promote products without consideration for customer needs. Signup and view all the answers

The core concept of marketing includes only financial profitability.

False Signup and view all the answers

What is the basic concept of marketing regarding human needs?

The state of felt deprivation for basic human requirements. Signup and view all the answers

Study Notes

Introduction to Marketing

Marketing is a social and managerial process that enables individuals and groups to obtain what they need and want through the creation and exchange of products and value.
No single definition exists; it encompasses the ability to satisfy customers, identifying favorable opportunities, gaining competitive edges, ensuring profitability, maximizing market position, and increasing market share in target markets.

Key Aspects of Marketing

The essence of marketing is to identify and meet human and social needs profitably while generating customer value.
Marketing involves creating, communicating, and delivering value to customers and managing customer relationships to benefit the organization and stakeholders.

Core Concepts of Marketing

Human Needs: Fundamental requirements such as food, clothing, safety, affection, and the need for knowledge and self-expression.
Human Wants: Specific desires shaped by culture and individual behavior (e.g., wanting a BigMac as a means to satisfy the need for food).
Demands: Wants that are supported by purchasing power.

Marketing Offering and Value

Marketing Offering: A combination of products, services, information, or experiences provided to the market to meet needs or wants.
Offers can include services, activities, people, places, information, or ideas.
Value: Customers form expectations regarding the value of a product, which is based on:
- The overall capacity of a product to satisfy their needs.
- Satisfaction of customer requirements at the lowest possible cost.

Description

This quiz provides an introduction to marketing specifically tailored for optometry students. It covers the essential concepts of marketing as a managerial process, focusing on how products and value are created and exchanged. Designed for 3rd-year students in the Optometry Business Management program.