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- 1. Multiple-choice20 seconds1 pt
Which of the following statements is incorrect?
‘Needs’ refer to a person’s feeling of a state of inadequacy.
‘Wants’ refer to what a customer desires beyond basic needs.
‘Value’ is the benefit received when buying a product or service.
‘Price’ is the value of the products or services.
- 2. Multiple-choice20 seconds1 pt
Which of the following statements is incorrect about marketing?
An entrepreneur may divide potential customers into segments of customers that share common characteristics.
‘Positioning’ refers to how customers perceive a brand or a company and its offerings as compared to other company’s offerings.
Some companies use taglines to position, reflect and differentiate their products from competitors’ product.
Marketing and sales are the same.
- 3. Multiple-choice20 seconds1 pt
Marketing mix refers to the following except:
Strategies of product
Strategies of customer relationship
Strategies of promotion
Strategies of place of distribution and selling outlets or points
- 4. Multiple-choice30 seconds1 pt
Which of the following statements is incorrect about marketing?
A marketer’s role is to find an opportunity to sell products and/or services to his target customers using the most suitable, cost-effective marketing strategies, in order to create profit for the marketer and to be of benefit to the customers.
Marketing is only an effort to convince others to buy products or services.
Effective marketing is based on the principles of understanding customers, delivering value to satisfy customers, and doing it at a profit.
A cost-effective marketing strategy is a strategy that has minimal cost, but the marketing impact or effectiveness is maximum.
- 5. Multiple-choice30 seconds1 pt
Which of the following statements is incorrect about marketing?
Marketing identifies unfulfilled needs and desires.
Customer satisfaction is very important as it will translate into repeated sales.
In the marketplace, sellers compete with each other to sell to customers.
A seller’s courteous, respectful and friendly service are part of a contact experience which is not part of the marketing.
- 6. Multiple-choice20 seconds1 pt
A brand differentiates a company’s product from its competitors and helps customers to make comparisons. Customers are more loyal to brands that they can associate with.
True
False
- 7. Multiple-choice20 seconds1 pt
Customer relationship management or customer relationship marketing focuses on building relationships with existing customers to turn them into loyal customers.
True
False
- 8. Multiple-choice20 seconds1 pt
Effective marketing is based on the principles of understanding customers, delivering value to satisfy customers, and doing it at a profit.
True
False
- 9. Multiple-choice20 seconds1 pt
Commodity products often use cost-based pricing while premium luxury products often use value-based pricing.
True
False
- 10. Multiple-choice20 seconds1 pt
Kotler defines marketing as ‘the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies fulfilled needs and desires’.
True
False
