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12 Questions

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The Scope of Marketing

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Questions and Answers

What is one of the shortest definitions of marketing provided in the text?

Managing customer relationships

Identifying human and social needs

Creating value for customers

Meeting needs profitably (correct)

According to the American Marketing Association, what is marketing?

A set of processes for delivering value to customers

An art of choosing target markets

Creating and delivering value to customers (correct)

Managing customer relationships

What does marketing management involve according to the text?

Focusing on societal well-being

Thinking about means of achieving desired responses from other parties (correct)

Creating customer value through pricing strategies

Studying human and social needs

How is marketing management described in the text?

Creating, delivering, and communicating superior customer value Signup and view all the answers

What distinguishes a social definition of marketing from a managerial one?

Considering societal implications Signup and view all the answers

What does the text suggest is essential for coping with exchange processes in marketing?

Considerable work and skill Signup and view all the answers

What is the societal definition of marketing mentioned in the text?

Marketing is the process of creating, offering, and exchanging products and services to fulfill needs and wants. Signup and view all the answers

According to Peter Drucker, what is the primary aim of marketing?

To make selling unnecessary by understanding and meeting customer needs. Signup and view all the answers

What are some examples of entities that marketing people are involved in marketing?

Goods, services, experiences, events, persons, places, properties, organizations, information, and ideas Signup and view all the answers

In marketing, what does the term 'experiences' refer to?

Orchestrating several services and goods to create and market experiences Signup and view all the answers

Which entity would be promoted by a place marketer?

Tourist attractions like cities, states, regions, and nations Signup and view all the answers

What is emphasized as the most important part of marketing according to the text?

Understanding and satisfying customer needs Signup and view all the answers