FBQ1: Marketing is a very exciting field which requires a great deal of ______ to be successful in it Answer: Creativity FBQ2: Knowledge about marketing decisions and processes will improve _____________ Answer: competences FBQ3: ____ is the business process by which products are matched with markets and through which transfer of ownership is effected. Answer: Marketing   FBQ4: The most basic concept underlying marketing is that of ________ Answer: Human needs FBQ5: They are desires for specific satisfaction of deeper needs ____  Answer: Human wants FBQ6: When backed by purchasing power, wants become___________ Answer: demands FBQ7: _____________ is anything that can be offered to someone to satisfy a need or want Answer: Product FBQ8: Marketing takes place when people decide to satisfy needs and wants through ____________­­­­­­­ Answer: Exchange FBQ9: _________ is a set of all actual and potential buyers of a product and service Answer: Market FBQ10: ____ is someone seeking a resource from someone else, and willing to offer something of value in exchange  Answer: Maketer FBQ11: In ____________era there was manufacturing of goods and services, but below the expected demands. Answer: manufacturing FBQ12: ____ wrote on monopolistic economy.  Answer: Professor Joe Robinson FBQ13: ____ came up due to the failure of the marketing concept.  Answer: Consumerism FBQ14: ____ states that marketing department is so complex that it can’t be handled by a single individual.  Answer: Peter Drucker FBQ15: Industrial goods can be grouped into three namely- materials and parts, _______, and supplies and services   Answer: Capital items FBQ16: ____ are goods bought by individuals and organisations for further processing or for use in conducting a business. Answer: Industrial FBQ17: ____________ gives focus on the nature, evolution, and functions of particular institutions and various facilitating agencies.  Answer: The institutional approach FBQ18: In new companies, managers are sometimes so busy they have no time for ____  Answer: Planning FBQ19: ____ is an approach which focuses on social contributions and costs created by various marketing activities and institutions.   Answer: The social approach FBQ20: Those goods that buyers, normally, do not think of buying are called ____  Answer: Unsought goods FBQ21: ____ is a marketing concept which holds that no company can operate in every market and satisfy every need; nor can it do a good job within one broad market.   Answer: Market focus FBQ22: Marketing executives do not have control over____________; but these variables can be influenced by business activities  Answer: External variables FBQ23: In recession period, consumers have less ________________ Answer: Purchasing power FBQ24: ____ is the statistical study of human population and its characteristics-in terms of distribution. Answer: Demography FBQ25: The suit business would hardly survive in northern Nigeria due to their ________orientation. Answer: Cultural FBQ26: Marketing managers should not have a good working knowledge of the major laws protecting competition, consumers and society. TRUE OR FALSE? Answer: FALSE FBQ27: Consumers are interested in the _______change, because they use it to determine the value of the item bought  Answer: Price FBQ28: ______is usually the communication tool employed by marketers to inform people or the market about availability of products/services offered into the markets. Answer: Promotion FBQ29: ________is a marketing function concerned with setting certain standards / levels to accomplish the produced goods. Answer: Standardisation and grading FBQ30: The fundamental service or benefit that the customer is really buying is called ____  Answer: Core benefits FBQ31: _______are standardised products and services, usually, of low unit values that consumers wish to buy immediately the needs arise and with little buying efforts. Answer: Convenience Products FBQ32: ____ are products that the buyers are willing to wait until the right ones are available before they buy them Answer: Specialty FBQ33: Clothing, household appliances, furniture are examples of ____ goods.  Answer: Shopping   FBQ34: Products like typewriters, hand tools, filing cabinets, air conditioners can be classified as ________ Answer: Equipment FBQ35: ___________are used to aid the running and maintenance of equipment and for keeping the organisation and machines in proper shape. Answer: Consumable and Operating Supplies MCQ1: Marketing is a very exciting field which requires a great deal of ______to be successful in business. Answer: creativity MCQ2: Marketing is a crucial human activity that is engaged in to satisfy economic needs and ______________  Answer: wants MCQ3: The following conditions, except ________ must subsist for marketing or exchange to take place. Answer: There must be limited wants and abundant resources MCQ4: People’s wants become ___________when it is backed by purchasing power,   Answer: Demands MCQ5: _________________ is anything that can be offered to someone to satisfy a need or want Answer: Product MCQ6: _________ wrote an article on ‘why people must segment their markets and differentiate their products’ Answer: Wanded Smith MCQ7: _______________ are not examples of consumer goods Answer: Durable Goods MCQ8: Laundry detergent is an example of __________ goods Answer: Convenience MCQ9: The key to customer retention is _____________ Answer: Customer satisfaction MCQ10: Satisfied customers do the following except __________________ Answer: Purchase products from the other company MCQ11: Sales people go beyond meeting the mere expectations of the customer; when they ________a customer Answer: Delight MCQ12: A ____________company will track its customer satisfaction level, each period, and set improvement goals. Answer: Customer-oriented MCQ13: In non-profit and public organisations, the major goal is ___________ Answer: Survival and attracting more funds MCQ14: ________concept holds that the organisation should determine the needs, wants, and interests of target markets. Answer: Societal marketing MCQ15: In period of ________ consumers have higher purchasing powers and are more willing to buy goods and services offered into the market. Answer: Prosperity MCQ16: Nations varies in natural endowments, for example some are rich in oil except _________ Answer: Kenya MCQ17: The firm’s market, suppliers and marketing intermediaries are classified as_________ variables. Answer: Non-Controllable MCQ18: ____________is often regarded as one of the companies’ offering which can stimulate purchases Answer: Price MCQ19: ________ is not one of the intermediaries. Answer: User MCQ20: ____________ is a management strategy used to inform and persuadethe market regarding a company’s products. Answer: Promotion MCQ21: Merchandising function is subdivided into ___________________ Answer: Standardisation, buying, assembling and Selling MCQ22: The following are examples of auxiliary functions in marketing, except ___________________ Answer: Warehousing MCQ23: ____________ is not part of the Product planning and development. Answer: Product standardisation MCQ24: ___________ is the key marketing mix variable around which all the other marketing mix variables revolve. Answer: Product MCQ25: Consumer is not just interested in the goods, but interested in what _____he/she will get from the goods. Answer: Benefits MCQ26: In the case of a hotel, such things as a bed, table, chair, bathroom, and dresser are examples of the ____________ products enjoyed by a guest in the hotel  Answer: Basic MCQ27: Products that exceeds customer’s expectations are called _______products Answer: Augmented MCQ28: In marketing when emphasis is on quality, price, fashion, style; the product can be classified as _______________. Answer: Shopping MCQ29: Personal selling and after-sales service is, generally, more important for__________Products. Answer: Industrial MCQ30: Most new, recently introduced products fall into the __________products.  Answer: Unsought MCQ31: Consumer products require elaborate _______________ Answer: Channels of distribution MCQ32: Industrial products are sold through ________________ Answer: Fewer outlets and directly by the firm MCQ33: Installations are major capital items that form the main assets of production for firms, they are_________________before they are purchased. Answer: Very costly items that need major decisions MCQ34: The demand for industrial goods is mostly _________________ Answer: Inelastic MCQ35: In Nigeria, most often, _____________________ Answer: Buyers are always more than sellers