Marketing Priciple Trivia Quiz Questions! Test
Marketing principle Chapter one
- 1.
What is Uitlity?
- A.
The want satisfying power of a good or service .
- B.
Organizational function and a set of processes for creating, communicating and delivering value to and for managing customer relationships in ways that benefit the organization and its stake holders.
- C.
Activity in which two or more parties give something of value to each other to satisfy perceived needs.
- D.
Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them.
- E.
Company wide consumer orientation with the objective of achieving long run success.
Correct Answer
A. The want satisfying power of a good or service .Explanation
Utility refers to the want satisfying power of a good or service. It is the ability of a product or service to fulfill a customer's needs or desires. Utility can be categorized into different types, such as form utility, time utility, place utility, and possession utility. Form utility refers to the transformation of raw materials into finished products, while time utility refers to the availability of a product or service when it is needed. Place utility refers to the convenience of obtaining a product or service in a specific location, and possession utility refers to the transfer of ownership or control of a product or service to the customer. Overall, utility is a crucial concept in marketing as it determines the value and satisfaction that a customer derives from a product or service.Rate this question:
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- 2.
What is marketing?
- A.
the want satisfying power of a good or service .
- B.
Involves marketing philosophies policies procedures and actions whose primary objective is to enhance society.
- C.
Organizational function and a set of processes for creating, communicating and delivering value to and for managing customer relationships in ways that benefit the organization and its stake holders.
- D.
Information collecting information about consumers competitors and channel members for use in making marketing decision.
- E.
Warehousing products until needed for sale.
Correct Answer
C. Organizational function and a set of processes for creating, communicating and delivering value to and for managing customer relationships in ways that benefit the organization and its stake holders.Explanation
Marketing is described as an organizational function and a set of processes that involve creating, communicating, and delivering value to customers. It also includes managing customer relationships in a way that benefits the organization and its stakeholders. This definition encompasses the core aspects of marketing, which involve understanding customer needs, developing products or services to meet those needs, and effectively communicating the value of those offerings to customers. Additionally, it highlights the importance of building and maintaining strong customer relationships to ensure long-term success for the organization.Rate this question:
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- 3.
What is the Exchange Process?
- A.
Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them.
- B.
Managements failure to recognize the scope of its business.
- C.
Identification and marketing of a social issue cause or idea to selected target markets.
- D.
Activity in which two or more parties give something of value to each other to satisfy perceived needs.
- E.
Marketing by mutual benefit organizations service organization and government organization intended to influence others to accept their goal receive their services or contribute to them in some way .
Correct Answer
D. Activity in which two or more parties give something of value to each other to satisfy perceived needs.Explanation
The exchange process refers to an activity in which two or more parties give something of value to each other to satisfy perceived needs. This can involve the exchange of goods, services, or even ideas. It is a fundamental concept in marketing, as it involves understanding and fulfilling the needs and wants of consumers. By engaging in the exchange process, businesses can build relationships with customers and create value for both parties involved.Rate this question:
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- 4.
What is Customer Orientation?
- A.
Marketing efforts designed to cultivate the attention interest and preferences of a target market toward a person perhaps a political candidate or celebrity.
- B.
Managements failure to recognize the scope of its business.
- C.
Development and maintenance of long term cost effective relationships with individual customers suppliers employees and other partners for mutual benefit.
- D.
Company wide consumer orientation with the objective of achieving long run success.
- E.
Business philosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them.
Correct Answer
E. Business pHilosopHy incorporating the marketing concept that empHasizes first determining unmet consumer needs and then designing a system for satisfying them.Explanation
Customer orientation refers to a business philosophy that focuses on understanding and meeting the needs of consumers. It involves identifying the unmet needs of customers and then developing strategies to fulfill those needs. This approach emphasizes the importance of putting the customer at the center of all business decisions and designing products, services, and marketing efforts to meet their preferences and expectations. By adopting a customer-oriented approach, businesses aim to achieve long-term success by building strong relationships with customers and providing them with value and satisfaction.Rate this question:
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- 5.
What is the marketing concept?
- A.
Company wide consumer orientation with the objective of achieving long run success.
- B.
Development and maintenance of long term cost effective relationships with individual customers suppliers employees and other partners for mutual benefit.
- C.
Managements failure to recognize the scope of its business.
- D.
Marketing efforts designed to cultivate the attention interest and preferences of a target market toward a person perhaps a political candidate or celebrity.
- E.
Marketing efforts to attract people and organizations to a particular geographic area.
Correct Answer
A. Company wide consumer orientation with the objective of achieving long run success.Explanation
The marketing concept refers to a company-wide approach that focuses on understanding and meeting the needs and wants of consumers. It involves aligning all aspects of the organization towards achieving long-term success by satisfying customer demands. This approach emphasizes the importance of consumer orientation and ensuring that all marketing efforts are directed towards creating value for customers. By adopting this concept, companies aim to build strong relationships with consumers and ultimately achieve their business objectives.Rate this question:
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- 6.
What is relationship marketing?
- A.
Managements failure to recognize the scope of its business.
- B.
Marketing efforts designed to cultivate the attention interest and preferences of a target market toward a person perhaps a political candidate or celebrity.
- C.
Development and maintenance of long term cost effective relationships with individual customers suppliers employees and other partners for mutual benefit.
- D.
Marketing efforts to attract people and organizations to a particular geographic area.
- E.
Identification and marketing of a social issue cause or idea to selected target markets.
Correct Answer
C. Development and maintenance of long term cost effective relationships with individual customers suppliers employees and other partners for mutual benefit. -
- 7.
What is a marketing myopia?
- A.
Marketing of sporting cultural and charitable activities to selected target markets.
- B.
Identification and marketing of a social issue cause or idea to selected target markets.
- C.
Marketing efforts to attract people and organizations to a particular geographic area.
- D.
Marketing efforts designed to cultivate the attention interest and preferences of a target market toward a person perhaps a political candidate or celebrity.
- E.
Managements failure to recognize the scope of its business.
Correct Answer
E. Managements failure to recognize the scope of its business.Explanation
Marketing myopia refers to a situation where a company focuses too narrowly on its own products or services and fails to recognize the broader needs and desires of its customers. This can lead to a lack of innovation and an inability to adapt to changing market trends. It is a failure of management to understand the full potential and scope of their business, which can ultimately hinder its long-term success.Rate this question:
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- 8.
What is person marketing?
- A.
Marketing efforts to attract people and organizations to a particular geographic area.
- B.
Marketing efforts designed to cultivate the attention interest and preferences of a target market toward a person perhaps a political candidate or celebrity.
- C.
Identification and marketing of a social issue cause or idea to selected target markets.
- D.
Marketing of sporting cultural and charitable activities to selected target markets.
- E.
Marketing by mutual benefit organizations service organization and government organization intended to influence others to accept their goal receive their services or contribute to them in some way .
Correct Answer
B. Marketing efforts designed to cultivate the attention interest and preferences of a target market toward a person perhaps a political candidate or celebrity.Explanation
Person marketing refers to marketing efforts that are specifically designed to attract the attention, interest, and preferences of a target market towards a particular person, such as a political candidate or celebrity. This type of marketing aims to promote and enhance the image and reputation of the person in order to gain support, followers, or customers. It involves strategies and tactics that focus on building a strong personal brand and creating a positive perception of the person among the target audience.Rate this question:
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- 9.
What is place marketing?
- A.
Identification and marketing of a social issue cause or idea to selected target markets.
- B.
Marketing of sporting cultural and charitable activities to selected target markets.
- C.
Marketing efforts to attract people and organizations to a particular geographic area.
- D.
Marketing by mutual benefit organizations service organization and government organization intended to influence others to accept their goal receive their services or contribute to them in some way .
- E.
Is the human activity that produces original ideas of knowledge.
Correct Answer
C. Marketing efforts to attract people and organizations to a particular geograpHic area.Explanation
Place marketing refers to the marketing efforts aimed at attracting people and organizations to a specific geographic area. This involves promoting the unique features, attractions, and opportunities that the place has to offer in order to encourage visitors, residents, businesses, and investors to choose that location. Place marketing strategies often include advertising campaigns, public relations activities, and targeted promotions to showcase the benefits and advantages of the area, such as its cultural, sporting, and charitable activities, as well as its social and economic opportunities.Rate this question:
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- 10.
What is cause marketing?
- A.
Marketing of sporting cultural and charitable activities to selected target markets.
- B.
Marketing by mutual benefit organizations service organization and government organization intended to influence others to accept their goal receive their services or contribute to them in some way .
- C.
Is the human activity that produces original ideas of knowledge.
- D.
Identification and marketing of a social issue cause or idea to selected target markets.
- E.
Refers to the process of determining the authenticity accuracy and worth of information knowledge claims and arguments.
Correct Answer
D. Identification and marketing of a social issue cause or idea to selected target markets.Explanation
Cause marketing refers to the identification and marketing of a social issue, cause, or idea to selected target markets. This involves promoting and raising awareness about a specific cause or social issue in order to encourage people to support or contribute to it. It is a strategic marketing approach that aims to create a positive impact on society while also benefiting the organization or brand involved. Cause marketing campaigns often involve collaborations between businesses and nonprofit organizations to leverage their resources and reach a wider audience.Rate this question:
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- 11.
What is event marketing?
- A.
Is the business application of knowledge based on scientific discoveries inventions and innovations.
- B.
Refers to the process of determining the authenticity accuracy and worth of information knowledge claims and arguments.
- C.
Is the human activity that produces original ideas of knowledge.
- D.
Marketing by mutual benefit organizations service organization and government organization intended to influence others to accept their goal receive their services or contribute to them in some way .
- E.
Marketing of sporting cultural and charitable activities to selected target markets.
Correct Answer
E. Marketing of sporting cultural and charitable activities to selected target markets. -
- 12.
What is organization marketing?
- A.
Marketing by mutual benefit organizations service organization and government organization intended to influence others to accept their goal receive their services or contribute to them in some way .
- B.
Is the human activity that produces original ideas of knowledge.
- C.
Refers to the process of determining the authenticity accuracy and worth of information knowledge claims and arguments.
- D.
Is the business application of knowledge based on scientific discoveries inventions and innovations.
- E.
Refers to buyer seller communications in which the customer controls the amount and type of information received from a marketer.
Correct Answer
A. Marketing by mutual benefit organizations service organization and government organization intended to influence others to accept their goal receive their services or contribute to them in some way .Explanation
Organization marketing refers to the marketing efforts made by mutual benefit organizations, service organizations, and government organizations to persuade others to accept their goals, receive their services, or contribute to them in some way. This type of marketing is focused on influencing individuals or other entities to support and engage with the organization's objectives and offerings.Rate this question:
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- 13.
What is creativity?
- A.
The business application of knowledge based on scientific discoveries inventions and innovations.
- B.
Another interactive technology for marketers and consumers alike to embrace.
- C.
The traditional view of marketing as an exchange process.
- D.
Partnerships in which two or more companies combine resources
- E.
The human activity that produces original ideas of knowledge.
Correct Answer
E. The human activity that produces original ideas of knowledge.Explanation
The correct answer is "the human activity that produces original ideas of knowledge." This answer accurately defines creativity as a process conducted by humans that generates new and original ideas or knowledge. It highlights the core aspect of creativity, which is the ability to think outside the box and come up with innovative concepts.Rate this question:
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- 14.
What is critical thinking?
- A.
The business application of knowledge based on scientific discoveries inventions and innovations.
- B.
Refers to the process of determining the authenticity accuracy and worth of information knowledge claims and arguments.
- C.
Refers to buyer seller communications in which the customer controls the amount and type of information received from a marketer.
- D.
Another interactive technology for marketers and consumers alike to embrace.
- E.
The traditional view of marketing as an exchange process.
Correct Answer
B. Refers to the process of determining the authenticity accuracy and worth of information knowledge claims and arguments.Explanation
Critical thinking refers to the process of evaluating and analyzing information, knowledge claims, and arguments to determine their authenticity, accuracy, and worth. It involves questioning and examining the evidence, logic, and reasoning behind a claim or argument before accepting it as true or valid. This skill is essential in making informed decisions, solving problems, and forming well-supported opinions.Rate this question:
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- 15.
Define Interactive Marketing
- A.
Partnerships in which two or more companies combine resources and capital to create competitive advantages in a new market.
- B.
The traditional view of marketing as an exchange process.
- C.
Another interactive technology for marketers and consumers alike to embrace.
- D.
Refers to buyer seller communications in which the customer controls the amount and type of information received from a marketer.
Correct Answer
D. Refers to buyer seller communications in which the customer controls the amount and type of information received from a marketer.Explanation
Interactive Marketing refers to buyer seller communications in which the customer controls the amount and type of information received from a marketer. This means that the customer has the power to choose what information they want to receive and how they want to receive it. It is a shift from the traditional view of marketing as an exchange process, where the marketer has more control over the information provided. This approach allows for more personalized and targeted marketing messages, as well as a higher level of engagement and involvement from the customer.Rate this question:
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- 16.
Define Internet Protocol Television
- A.
Ensuring that the product offering are available in sufficient quantities to meet customer demands.
- B.
Another interactive technology for marketers and consumers alike to embrace.
- C.
Using advertising personal selling and sales promotion to match products to customer needs.
Correct Answer
B. Another interactive technology for marketers and consumers alike to embrace.Explanation
The given correct answer suggests that Internet Protocol Television (IPTV) is another interactive technology that both marketers and consumers should embrace. This implies that IPTV provides opportunities for marketers to engage with their target audience and for consumers to interact with the content they are consuming. IPTV allows for personalized and interactive experiences, making it a valuable tool for both marketing and consumer engagement.Rate this question:
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- 17.
Define Transaction Based Marketing
- A.
Partnerships in which two or more companies combine resources and capital to create competitive advantages in a new market.
- B.
Ensuring that the product offering are available in sufficient quantities to meet customer demands.
- C.
The traditional view of marketing as an exchange process.
Correct Answer
C. The traditional view of marketing as an exchange process.Explanation
Transaction Based Marketing refers to the traditional view of marketing as an exchange process. This means that it focuses on the transaction between the buyer and the seller, where the buyer exchanges money for a product or service. It emphasizes on ensuring that the product offering is available in sufficient quantities to meet customer demands. This approach does not involve partnerships or combining resources and capital to create competitive advantages in a new market.Rate this question:
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- 18.
Define Strategic Alliance
- A.
Ensuring that the product offering are available in sufficient quantities to meet customer demands.
- B.
Partnerships in which two or more companies combine resources and capital to create competitive advantages in a new market.
- C.
Using advertising personal selling and sales promotion to match products to customer needs.
Correct Answer
B. Partnerships in which two or more companies combine resources and capital to create competitive advantages in a new market.Explanation
A strategic alliance refers to a partnership formed between two or more companies where they combine their resources, capital, and expertise to gain a competitive advantage in a new market. This collaboration allows the companies to leverage each other's strengths and capabilities, leading to increased market share, improved product offerings, and enhanced competitiveness. By working together, the companies can achieve synergies and access new markets, ultimately leading to mutual benefits and growth opportunities.Rate this question:
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- 19.
Define Buying
- A.
Using advertising personal selling and sales promotion to match products to customer needs.
- B.
Ensuring the product offering meet quality and quantity controls of size weight and other variables.
- C.
Ensuring that the product offering are available in sufficient quantities to meet customer demands.
Correct Answer
C. Ensuring that the product offering are available in sufficient quantities to meet customer demands.Explanation
The correct answer is ensuring that the product offering are available in sufficient quantities to meet customer demands. This answer accurately describes the concept of buying, which involves ensuring that there is enough supply of the product to meet the demands of customers. This includes managing inventory levels, forecasting demand, and coordinating with suppliers to ensure a smooth flow of products to meet customer needs.Rate this question:
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- 20.
Define Selling
- A.
Ensuring the product offering meet quality and quantity controls of size weight and other variables.
- B.
Using advertising personal selling and sales promotion to match products to customer needs.
- C.
Involves marketing philosophies policies procedures and actions whose primary objective is to enhance society.
Correct Answer
B. Using advertising personal selling and sales promotion to match products to customer needs.Explanation
The correct answer is "Using advertising personal selling and sales promotion to match products to customer needs." This answer accurately defines selling as the process of using various marketing techniques such as advertising, personal selling, and sales promotion to identify and fulfill customer needs with appropriate products. It highlights the importance of understanding customer needs and tailoring the product offering accordingly.Rate this question:
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- 21.
Define Standardizing and Grading
- A.
Ensuring the product offering meet quality and quantity controls of size weight and other variables.
- B.
Providing credit for channel member and consumers.
- C.
Warehousing products until needed for sale.
Correct Answer
A. Ensuring the product offering meet quality and quantity controls of size weight and other variables.Explanation
Standardizing and grading refers to the process of ensuring that products meet specific quality and quantity controls in terms of size, weight, and other variables. This is important in order to maintain consistency and uniformity in the products being offered. By standardizing and grading, companies can ensure that their products meet certain specifications and meet the expectations of customers. This helps in building trust and credibility among consumers and also helps in maintaining quality control throughout the supply chain.Rate this question:
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- 22.
Define Financing
- A.
Warehousing products until needed for sale.
- B.
Moving products from their point of production to locations convenient for purchasers.
- C.
Providing credit for channel member and consumers.
Correct Answer
C. Providing credit for channel member and consumers.Explanation
Financing refers to the act of providing credit to channel members and consumers. This involves offering financial assistance or loans to individuals or businesses to support their purchasing activities. In the context of the given options, financing is the most appropriate explanation as it specifically relates to providing credit. The other options, such as warehousing products and moving products, do not directly involve providing credit.Rate this question:
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- 23.
Define Transporting
- A.
Moving products from their point of production to locations convenient for purchasers.
- B.
Warehousing products until needed for sale.
- C.
Dealing with uncertainty about future customer purchases.
Correct Answer
A. Moving products from their point of production to locations convenient for purchasers.Explanation
The correct answer is "moving products from their point of production to locations convenient for purchasers." This definition accurately describes the process of transporting goods, which involves physically moving products from where they are produced to where they can be easily accessed by customers. This may involve various modes of transportation such as trucks, trains, ships, or airplanes. The goal is to ensure that the products are delivered efficiently and in a timely manner to meet customer demand.Rate this question:
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- 24.
Define Storing
- A.
Dealing with uncertainty about future customer purchases.
- B.
Warehousing products until needed for sale.
- C.
Information collecting information about consumers competitors and channel members for use in making marketing decision.
Correct Answer
B. Warehousing products until needed for sale.Explanation
The term "storing" refers to the practice of warehousing products until they are needed for sale. This involves keeping inventory in a designated location until it is ready to be distributed or sold to customers. This answer is correct because it accurately describes the concept of storing in the context of business operations. It does not involve uncertainty about future customer purchases or information collection about consumers, competitors, and channel members.Rate this question:
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- 25.
Define Risk Taking
- A.
Dealing with uncertainty about future customer purchases.
- B.
Information collecting information about consumers competitors and channel members for use in making marketing decision.
- C.
Are moral standard of behavior accepted by society.
Correct Answer
A. Dealing with uncertainty about future customer purchases.Explanation
Risk taking refers to the act of engaging in activities or making decisions without knowing the outcome or having complete certainty about future customer purchases. It involves accepting the possibility of potential losses or negative consequences in order to pursue potential gains or positive outcomes. This can include making investments, launching new products or services, or entering new markets, where the outcome is uncertain and the potential for both success and failure exists. By taking risks, businesses aim to seize opportunities, gain a competitive advantage, and drive growth.Rate this question:
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- 26.
Define Securing Marketing
- A.
Are moral standard of behavior accepted by society.
- B.
Information collecting information about consumers competitors and channel members for use in making marketing decision.
- C.
Involves marketing philosophies policies procedures and actions whose primary objective is to enhance society.
Correct Answer
B. Information collecting information about consumers competitors and channel members for use in making marketing decision.Explanation
The correct answer is "Information collecting information about consumers competitors and channel members for use in making marketing decision." This answer accurately defines securing marketing as the process of gathering information about consumers, competitors, and channel members in order to make informed marketing decisions.Rate this question:
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- 27.
What is Ethics?
- A.
Are moral standard of behavior accepted by society.
- B.
Involves marketing philosophies policies procedures and actions whose primary objective is to enhance society.
- C.
Information collecting information about consumers competitors and channel members for use in making marketing decision.
Correct Answer
A. Are moral standard of behavior accepted by society.Explanation
The correct answer is "are moral standard of behavior accepted by society." This answer accurately defines ethics as the moral standards of behavior that are accepted by society. Ethics guide individuals and organizations in making decisions and conducting themselves in a way that is considered morally right and acceptable by the society they are a part of.Rate this question:
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- 28.
Define Social Responsibilities
- A.
Involves marketing philosophies policies procedures and actions whose primary objective is to enhance society.
- B.
Information collecting information about consumers competitors and channel members for use in making marketing decision.
- C.
Moving products from their point of production to locations convenient for purchasers.
Correct Answer
A. Involves marketing pHilosopHies policies procedures and actions whose primary objective is to enhance society.Explanation
Social responsibilities in marketing refer to the philosophies, policies, procedures, and actions undertaken by a company with the primary objective of enhancing society. This means that a company considers the impact of its marketing decisions on society and takes steps to ensure that its actions are beneficial and responsible. It involves a commitment to ethical practices, sustainability, and social welfare, beyond just profit-making. By prioritizing society's well-being, companies can contribute to the overall betterment of the community and build a positive reputation.Rate this question:
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Aug 20, 2024Quiz Edited by
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Sep 07, 2009Quiz Created by
Channymae
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