Question: Marketing exists only when Answer:There is an exchange Question: Customer satisfaction is the extent to which a products perceived performance matches a Answer:Buyers expectation Question: are wants for specific products that are backed up by purchasing power Answer:Demands Question: A is a state of felt derivation of some basic satisfaction Answer:Human need Question: It has been reported that get people to buy things dont want Answer:Retailers Question: is the business process by which products are matched with markets and through which tansfer of ownership are effectred Answer:Marketing Question: In an economy of plenty most people have to satisfy their material wants through Answer:Outside sources Question: In the early stage of the societys economic development marketing problem focuses on Answer:Pysical production Question: Which of these is a component of any economic systems Answer:Services Question: The study of marketing deals with identification and meeting human and needs Answer:Social Question: Marketing evolves from this last approach to acquiring products ie Answer:exchange Question: For exchange to take place Kotler 1984 lists conditions that must be satisfied Answer:five Question: Channel of distribution can be grouped into categories Answer:Two Question: A product provides a bundle of satisfaction that the consumer derives from the product itself along with its promotion distribution and price Answer:Strongly agree Question: Marketing research is the first step taken by any before investing his money in business Answer:Business man Question: decisions are strongly affected by developments in the political and legal environment Answer:Marketing Question: One of the most dramatic forces shaping peoples lives is Answer:technology Question: Research is necessary but a lot of are reluctant to engage in international research Answer:managers Question: One major objective of international research is to discover new opportunities Answer:foreign market Question: can be described as the route through which goods and services pass through tp the final consumers Answer:Channel Question: promotes a customers information in political social and economics affairs internationally Answer:Environmental scanning Question: of production refers to the sourcing of goods and services from locations Answer:Globalization Question: marketing planning in an organization leads to the preparation of an annual marketing plan Answer:Strategic Question: Monitoring environmental changes helps discover emerging opportunities such as growth and unfilled market needs Answer:Markets Question: Kotler 1984 states that for exchange to take place it must satisfy conditions Answer:five Question: The concept rests on four main pillars Answer:marketing Question: marketing plan is the master blueprint for a years marketing activity for a specified organizational division or major product Answer:Annual Question: The benefit of marketing segmentation is that it leads to more satisfying marketing Answer:Results Question: Product is also part of product development which focuses on the functional aspects of the product and on consumer acceptance Answer:testing Question: is concerned with setting certain standards levels to accomplish the produced goods Answer:Standardization and grading Question: For exchange to take place there must be the presence of some of the following Answer:all of the above Question: Marketing mix include one o f the following Answer:Product Question: Marketing takes place when people decide to satisfy their needs and wants through Answer:Exchange Question: Marketing is a social process through which individuals and group obtain their Answer:Needs and wants Question: Marketing activities relates to the concept Answer:All of the above Question: Marketing creates Answer:Exchange and value Question: The most common concept underlying marketing is that of Answer:Human needs Question: A market is where all actual and potential buyers of product and service meet Answer:Strongly agree Question: A product is anything that can be offered to some to satisfy Answer:Needs Wants Question: The act of obtaining a desired object from someone by offering something in return is Answer:Exchange Question: The product concept holds that consumers value products that offer Answer:High quality Question: The major goal of an organization to an extent is Answer:Profit Question: Another important role is the discovery of entrepreneurial talent Answer:Agree Question: Commodity approach in marketing focuses on Answer:Classes of products Question: The purpose of marketing concept is to help organizations Answer:Achieve its goals Question: Consumerism is an organized movement of citizens and government to fight wars on poor products Answer:False Question: Marketing concept holds that organization must first create to satisfy Answer:Needs wants of target market Question: The production concept holds that consumers will value products that are highly Answer:Affordable Question: One of the significance of marketing is to provide Answer:Better standard of living Question: Marketings first role is to Answer:A Stimulate potential aggregate demand