Understanding the Concept of Market in Marketing
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Questions and Answers

According to the American Marketing Association, what is marketing?

  • A method of controlling customer behavior
  • A process of maximizing profits through sales
  • An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships (correct)
  • An individual activity for promoting products to customers

    • What is the main focus of marketing according to Philip Kotler?

  • Maximizing profits through aggressive advertising
  • Controlling the market through monopolistic practices
  • Exploring, creating, communicating, delivering value to targeted customers at profit (correct)
  • Selling products at the highest possible price

    • What does the term 'market' mean in Latin?

  • "To Buy"
  • "To Trade" (correct)
  • "To Communicate"
  • "To Sell"

    • Who are considered stakeholders in a company?

    <p>Government, customers, partners, suppliers, society</p> Signup and view all the answers

    What are examples of goods that are marketed?

    <p>iPhone, clothes, medicine</p> Signup and view all the answers

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