MGT301 QUIZ NO 1 SOLVED 100% VERIFIED BY ADMIN (MID TERM SYLLABUS)
Q1: When you marketing manager discussed factors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers, you knew that she was talking about the external marketing concept.
Q2: The societal marketing concept calls on marketers to balance consumer wants and desires, company profits, and society's interest.
Q3: Product, price, place and promotion make up the elements of a firm's marketing mix.
Q4: Significant reasons for business laws to be enacted include protecting the interests of society, protecting consumers, and protecting companies from each other.
Q5: Marketing research firms, advertising agencies, media firms, and marketing consulting firms are referred to as marketing services agencies.
Q6: The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction.
Q7: At times it becomes necessary to reduce demand for some products and services. When the government tries to reduce smoking of tobacco products, it adds more tax to the products and is practicing demarketing.
Q8: Today's marketers must be good at building relationships in order to connect effectively with customers, other in the company, and external partners.
Q9: Tanveer Jafer works for a firm that is a distribution channel member that helps the company find customers or make sales to them. Tanveer works for a reseller.
Q10: Demarketing is a marketing philosophy focused upon product differentiation and positioning.
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