MGT301 QUIZ NO 1 SOLVED FILE 1|| 100% VERIFIED|| VURANK

MGT301 QUIZ NO 1 SOLVED 100% VERIFIED BY ADMIN (MID TERM SYLLABUS)

Q1: When backed by buying power, wants become demands.

A) True (Theme 1 page 2) (100% Sure)

D) False

Q2: Who is our target market and what's our value proposition are two important questions underlying marketing strategy.

A) True (Theme 1 page 7) (100% Sure)

B) False

Q3: The simplest definition of modern marketing is managing profitable customer relationships.

A) True (Theme 1 page 7) (100% Sure)

C) False

Q4: An exchange is the core concept of marketing, whereas a transaction is marketing's unit of measurement.

A) True (Theme 1 page 2) (100% Sure)

D) False

Q5: The production concept and product concept are two philosophies that can both lead to marketing myopia.

A) True (Theme 1 page 5) (100% Sure)

C) False

Q6: Selling is managing profitable customer relationships.

A) True

D) False (Theme 1 Page 6) (100% Sure)

Q7: Commercial accounting is done through a system known as:

A) True

D) False (Confirm) (100% Sure)

Q8: Most firms follow the production concept when they face overcapacity.

A) True

D) False (Theme 1 page 5) (100% Sure)

Q9: The difference between human needs and wants is that needs are states of felt deprivation.

C) True (Theme 1 page 1) (100% Sure)

D) False

Q10: Customer-perceived value depends on the product's perceived performance relative to a buyer's expectations.

A) True (Theme 1 page 1) (100% Sure)

B) False