MGT301 QUIZ NO 1 SOLVED 100% VERIFIED BY ADMIN (MID TERM SYLLABUS)
Q1: Product, pirce, place and promotion make up the elements of a firm's marketing mix.
Q2: Significant reasons for business laws to be enacted include protecting the interests of society, protecting consumers, and protecting companies from each other.
Q3: Marketing management is interested in serving all customers in every way to remain competitive in today's markets.
Q4: Most firms follow the production concept when they face overcapacity.
Q5: The societal marketing concept calls on marketers to balance consumer wants and desires, company profits, and society's interest.
Q6: The reason the demographic environment is of major interest to marketers is because it involves people, and people make up markets.
Q7: Today's marketers recognize the importance of working with their intermediaries as channels through which they sell their products rather than as mere partners.
Q8: When backed by buying power, wants become demands.
Q9: The significant trends in the natural environement include shortage of raw material and increased pollution.
Q10: When railroad companies thought that users wanted trains rather than transportation and overlooked the growing challenge of other modes of transportation they were following the selling concept.
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