Module 1

which of the following are associated with marketing, as defined by the american marketing association

- institutions that facilitate the exchange of offerings that have value for customers - activities that communicate offerings that have value for society at large - processes used to create value for clients

which of the following statements about the core aspects of marketing are true

- marketing involves staisfying customer needs - marketing impacts various stakeholders - marketing requires product, price, place and promotion decisions

If a car manufacturer wanted to segment its marketplace it would

- organize potential customers into groups based on their age - divide consumers into groups based on their incomes - identify customer needs for different types of cars

which of the following characterizes an exchange

A buyer and seller trade things of value, leaving each better off than before

which of the following is true of services

They cannot be separated from the producer

what are core aspects of marketing

creates value and entails an exchange

marketing is the activity, set of instutions, and processes that create, capture, communicate, and ______ value

deliver

a core aspect of marketing involves a _________ which is a transaction in which things of value are traded by buyers and sellers

exchange

Which of the following is the part of the marketing mix that seeks to create value by providing features and benefits that meet consumers' needs

product

which of the following are elements of the marketing mix

product, price, place, promotion

When a toothpaste manufacturer divides the marketplace into smaller targets based on benefits sought by consumers

segmentation

which of the following describes the fundamental purpose of marketing

to create value and satisfy consumer needs through a variety of offerings