QuestionDefining Marketing For The 21st Century

Defining Marketing For The 21st Century

Chapter 1: Defining Marketing for the 21st Century

GENERAL CONCEPT QUESTIONS

Multiple Choice

1. The most formal definition of marketing is ________.

a. meeting needs profitably

b. identifying and meeting human and social needs

c. the four Ps (product, price, place, promotion)

d. an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders

e. improving the quality of life for consumers

2. ________ takes place when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.

a. Marketing management

b. Forecasting

c. Segmentation

d. Targeting

e. Distribution

3. Marketing management is ________.

a. managing the marketing process

b. monitoring the profitability of the company’s products and services

c. selecting target markets

d. developing marketing strategies to move the company forward

e. the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value

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