Understanding the Role of Marketing in Business
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Questions and Answers

What is the core function of marketing in business?

  • Understanding the needs, wants, and desires of customers (correct)
  • Creating value for customers and society
  • Developing and pricing products
  • Distributing and promoting products and services
  • According to the American Marketing Association, what is marketing practiced by?

  • Nonprofit Organizations only
  • For-Profit Organizations only
  • Both For-Profit and Nonprofit Organizations (correct)
  • Government Agencies
  • Which era did marketing evolve through?

  • Production era, Selling era, Value era, Relationship era (correct)
  • Manufacturing era, Merchandising era, Customer-centric era, CRM era
  • Supply era, Demand era, Sales era, Customer era
  • Utility era, Transaction era, Customer focus era, Partnership era
  • What is an important part of marketing in companies?

    <p>Marketing products, product lines, and a product mix</p> Signup and view all the answers

    Where do we see marketing being practiced?

    <p>Everywhere by profit-oriented firms and more by nonprofits</p> Signup and view all the answers

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