1. A company that donates a portion of its profits to environmental conservation efforts is demonstrating which marketing concept?
A. Production Concept
B. Selling Concept
C. Marketing Concept
D. Societal Marketing Concept
2. What is the meaning of ‘market segmentation’?
A. Selling products in international markets.
B. Dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors.
C. Focusing marketing efforts on a single, specific customer.
D. Ignoring differences among customers and treating them all the same.
3. Which of the following is the best example of creating ‘customer value’?
A. Selling a product at the lowest possible price, regardless of quality.
B. Offering a high-quality product with excellent customer service at a fair price.
C. Aggressively advertising a product to create demand, even if it doesn’t meet customer needs.
D. Focusing solely on product features without considering customer benefits.
4. A company decides to outsource its customer service operations to a third-party provider in another country to reduce costs. What potential impact could this decision have on ‘customer value’?
A. It will always increase customer value by lowering prices.
B. It could decrease customer value if the outsourced service is of lower quality or less responsive.
C. It will have no impact on customer value.
D. It will only impact customer value if competitors also outsource their customer service.
5. A luxury brand maintains a high price point for its products, even though production costs are relatively low. This pricing strategy is most closely related to:
A. Cost-plus pricing
B. Value-based pricing
C. Competitive pricing
D. Penetration pricing
6. What is the societal marketing concept?
A. Marketing products that are popular in society.
B. Making marketing decisions by considering consumers’ wants, the company’s requirements, consumers’ long-run interests, and society’s long-run interests.
C. Marketing only to specific social groups.
D. Using social media for marketing purposes.
7. Which of the following best describes the evolution of marketing from the production era to the relationship era?
A. From focusing on mass production to focusing on aggressive sales tactics.
B. From focusing on product features to focusing on lowering prices.
C. From focusing on internal capabilities to focusing on customer needs and long-term relationships.
D. From focusing on domestic markets to focusing on international markets.
8. What is the role of marketing research in the marketing process?
A. To create advertising campaigns.
B. To understand customer needs and preferences and to evaluate marketing effectiveness.
C. To manage the sales force.
D. To control pricing strategies.
9. A company discovers that its target market is increasingly concerned about environmental sustainability. According to the societal marketing concept, what should the company do?
A. Ignore the trend and continue with its existing marketing strategy.
B. Adapt its products and marketing messages to address environmental concerns, even if it means higher costs.
C. Greenwash its products to appear environmentally friendly without making significant changes.
D. Shift its target market to a segment less concerned about sustainability.
10. Which of the following is a key characteristic of the ‘sales orientation’ era in marketing?
A. A focus on understanding and meeting customer needs.
B. Aggressive sales techniques to persuade customers to buy.
C. Emphasis on product innovation and quality.
D. Building long-term relationships with customers.
11. Which of the following is the most accurate definition of marketing?
A. Marketing is primarily about advertising and selling products.
B. Marketing is the process of creating, distributing, promoting, and pricing goods and services to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment.
C. Marketing is solely focused on maximizing profits for the company.
D. Marketing is only relevant for large corporations.
12. A coffee shop introduces a new loyalty program where customers earn points for every purchase, leading to discounts and free items. This initiative primarily focuses on which aspect of marketing?
A. Product Development
B. Relationship Marketing
C. Sales Promotion
D. Market Research
13. What is the key difference between a ‘want’ and a ‘need’ in marketing?
A. Needs are unlimited, while wants are limited.
B. Needs are basic requirements, while wants are desires shaped by culture and personality.
C. Wants are essential for survival, while needs are not.
D. There is no difference between a want and a need.
14. A local bakery decides to offer a discount on croissants every Tuesday to attract more customers. Which element of the marketing mix is the bakery primarily focusing on?
A. Product
B. Place
C. Price
D. Promotion
15. Which era in the history of marketing focused primarily on efficient production to meet high demand?
A. The Sales Era
B. The Marketing Era
C. The Production Era
D. The Relationship Marketing Era
16. A company is launching a new line of eco-friendly cleaning products. Which of the following promotional strategies would be MOST consistent with the societal marketing concept?
A. Running advertisements that exaggerate the environmental benefits of the products.
B. Partnering with an environmental organization to promote sustainable living and donating a portion of sales to their cause.
C. Offering deep discounts to encourage consumers to switch from competing brands, regardless of their environmental impact.
D. Focusing solely on the product’s cleaning effectiveness, without mentioning its environmental benefits.
17. A new smartphone company decides to initially target tech-savvy millennials in urban areas. This is an example of:
A. Mass Marketing
B. Product Differentiation
C. Market Segmentation
D. Diversification
18. What is the primary goal of the marketing concept?
A. To maximize short-term profits.
B. To achieve organizational goals by satisfying customer needs and wants better than competitors.
C. To minimize costs and maximize efficiency.
D. To focus solely on product development.
19. What is a marketing strategy?
A. A detailed plan for advertising a product.
B. A plan of action for identifying and analyzing a target market and developing a marketing mix to meet the needs of that market.
C. A method for setting prices for products.
D. A way to manage a company’s sales force.
20. Which of the following is a potential negative consequence of a purely ‘sales-oriented’ approach to marketing?
A. Increased customer loyalty
B. Damaged brand reputation due to aggressive or misleading sales tactics
C. Higher profit margins in the short term
D. Greater employee satisfaction
21. Which of the following is an example of a ‘need’ in marketing?
A. A desire for a luxury car.
B. A craving for a specific brand of soda.
C. The requirement for food, shelter, and clothing.
D. The preference for a particular style of clothing.
22. A company focusing solely on creating the best possible product, without considering customer needs or competitor offerings, is exhibiting which orientation?
A. Marketing Orientation
B. Sales Orientation
C. Product Orientation
D. Societal Orientation
23. What is the definition of ‘value’ in the context of marketing?
A. The monetary price of a product.
B. A customer’s subjective assessment of benefits relative to costs in determining the worth of a product.
C. The objective quality of a product.
D. The resale value of a product.
24. Which of the following is an example of ‘place’ in the marketing mix?
A. The design of a product.
B. The location where a product is sold.
C. The price of a product.
D. An advertising campaign for a product.
25. Which of the following scenarios best illustrates the ‘marketing concept’ in action?
A. A company produces a large quantity of inexpensive goods to maximize profits.
B. A company conducts extensive market research to understand customer needs and then develops products to meet those needs.
C. A company uses aggressive advertising to convince customers to buy its products.
D. A company focuses solely on improving its production processes to reduce costs.
26. Which of the following is NOT one of the four Ps of the marketing mix?
A. Price
B. Promotion
C. Product
D. People
27. What is the focus of relationship marketing?
A. Short-term sales transactions
B. Building long-term customer loyalty and engagement
C. Aggressive advertising campaigns
D. Minimizing customer service costs
28. Which of the following is the most direct result of implementing a successful marketing strategy?
A. Increased production costs
B. Enhanced brand loyalty and customer satisfaction
C. Decreased employee turnover
D. Reduced advertising expenditure
29. Which of the following is an example of ‘promotion’ in the marketing mix?
A. The cost of manufacturing a product.
B. The design of a product’s packaging.
C. An advertising campaign on social media.
D. The location of a retail store.
30. A small business owner is struggling to define their target market. Which of the following questions is MOST crucial for them to answer?
A. What is the latest social media trend?
B. Who are our ideal customers, and what are their needs and wants?
C. What are our competitors doing?
D. How can we lower our production costs?
31. A company focuses on improving manufacturing efficiency to lower costs and offer lower prices. Which marketing management orientation does this reflect?
A. Selling concept
B. Product concept
C. Production concept
D. Marketing concept
32. What is ‘customer equity’?
A. The total number of customers a company has.
B. The combined customer lifetime values of all the company’s current and potential customers.
C. The value of a company’s brand name.
D. The cost of acquiring new customers.
33. Which of the following is the best example of ‘value’ in the context of marketing?
A. A low-priced product.
B. The ratio of benefits received to sacrifices made by the customer.
C. A product with many features.
D. A product that is heavily advertised.
34. What is the primary goal of marketing?
A. To maximize short-term profits.
B. To build and maintain profitable customer relationships.
C. To minimize advertising expenses.
D. To create innovative products.
35. Which of the following is the best example of ‘customer lifetime value’ (CLV)?
A. The profit margin on a single sale to a customer.
B. The total revenue generated from all customers in a year.
C. The predicted revenue or profit associated with a customer for the duration of their relationship with a company.
D. The cost of acquiring a new customer.
36. What is ‘positioning’ in marketing?
A. Setting a low price for a product.
B. Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
C. Promoting a product through advertising.
D. Distributing a product through multiple channels.
37. A technology company releases a new smartphone with advanced features but fails to adequately promote its benefits to consumers. Which aspect of the marketing mix is most likely lacking?
A. Product
B. Price
C. Place
D. Promotion
38. Which of the following is the most accurate definition of marketing?
A. Marketing is primarily concerned with advertising and sales promotions.
B. Marketing is the process of creating, distributing, promoting, and pricing goods and services to a target market.
C. Marketing is simply about selling products to customers.
D. Marketing is an organizational function and a set of processes for creating, capturing, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
39. Which of the following is a potential drawback of focusing solely on the ‘production concept’?
A. High production costs
B. Ignoring customer needs and wants
C. Inefficient distribution channels
D. Lack of product innovation
40. Which of the following is NOT a key element of a customer-driven marketing strategy?
A. Market segmentation
B. Targeting
C. Differentiation
D. Mass production
41. What is the role of marketing research in the marketing process?
A. To develop advertising campaigns.
B. To understand the marketplace, customer needs, and competitive landscape.
C. To manage sales teams.
D. To set product prices.
42. What is the main difference between the ‘selling concept’ and the ‘marketing concept’?
A. The selling concept focuses on production efficiency, while the marketing concept focuses on product innovation.
B. The selling concept focuses on aggressive sales efforts, while the marketing concept focuses on customer needs and satisfaction.
C. The selling concept focuses on societal welfare, while the marketing concept focuses on short-term profits.
D. There is no difference between the selling concept and the marketing concept.
43. Which of the following is an example of a ‘want’ in marketing terms?
A. The need for transportation.
B. The need for water.
C. The desire for a specific brand of car.
D. The need for clothing.
44. A company that produces environmentally friendly products and donates a portion of its profits to environmental conservation efforts is likely following which marketing orientation?
A. Selling concept
B. Production concept
C. Marketing concept
D. Societal marketing concept
45. A company offers a high-quality product with unique features at a premium price. Which marketing strategy is the company most likely pursuing?
A. Cost leadership
B. Differentiation
C. Market penetration
D. Operational excellence
46. A local bakery decides to donate a portion of its profits to a local charity. Which marketing concept does this best represent?
A. Production concept
B. Selling concept
C. Marketing concept
D. Societal marketing concept
47. Which of the following is an example of a ‘market offering’?
A. A customer’s need for food.
B. A company’s advertising budget.
C. A combination of products, services, information, or experiences offered to a market to satisfy a need or want.
D. The price of a product.
48. Which of the following is an example of a ‘need’ in marketing terms?
A. A desire for a specific brand of smartphone.
B. The basic requirement for food, clothing, and shelter.
C. A want for a luxury car.
D. A demand for the latest fashion trends.
49. A company focuses on understanding customer needs and wants to deliver satisfaction better than its competitors. Which marketing management orientation does this reflect?
A. Production concept
B. Selling concept
C. Marketing concept
D. Product concept
50. Which of the following is a key challenge in implementing the ‘societal marketing concept’?
A. Difficulty in understanding customer needs.
B. Balancing company profits, consumer wants, and societal interests.
C. Lack of product innovation.
D. Inefficient production processes.
51. What does ‘customer relationship management’ (CRM) primarily focus on?
A. Managing the supply chain.
B. Building and maintaining profitable customer relationships.
C. Conducting marketing research.
D. Developing new products.
52. A company decides to reduce its advertising spending to improve short-term profitability. Which marketing orientation is the company likely following?
A. Societal marketing concept
B. Production concept
C. Selling concept
D. Marketing concept
53. Which of the following is NOT one of the four Ps of the marketing mix?
A. Price
B. Promotion
C. People
D. Product
54. A company decides to focus on selling what it makes, rather than making what the market wants. Which marketing management orientation is the company likely following?
A. Marketing concept
B. Societal marketing concept
C. Selling concept
D. Production concept
55. What is ‘market segmentation’?
A. Creating new products for the market.
B. Dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors.
C. Selling products to international markets.
D. Analyzing the competition in the market.
56. What is the role of ‘marketing intermediaries’ in the distribution process?
A. To manufacture products.
B. To facilitate the movement of products from producers to consumers.
C. To conduct marketing research.
D. To develop advertising campaigns.
57. Which of the following is the best example of ‘place’ in the marketing mix?
A. The design of a product.
B. The distribution channels used to get the product to customers.
C. The price of a product.
D. Advertising a product on television.
58. Which of the following is the most likely outcome of successful customer relationship management?
A. Increased advertising spending.
B. Higher customer satisfaction and loyalty.
C. Lower product quality.
D. Reduced marketing research efforts.
59. What is the purpose of ‘branding’?
A. To lower the price of a product.
B. To create a distinct identity and image for a product or company in the minds of consumers.
C. To increase advertising spending.
D. To improve product quality.
60. A new coffee shop opens next to a university, offering free Wi-Fi and comfortable seating to attract students. Which marketing concept is this coffee shop applying?
A. Production concept
B. Selling concept
C. Marketing concept
D. Product concept
61. Which of the following is the best example of a ‘marketing channel’?
A. A social media advertisement.
B. A retail store that sells a company’s products.
C. A product’s packaging design.
D. The price of a product.
62. A company that donates a portion of its profits to environmental causes is demonstrating:
A. A production orientation.
B. A sales orientation.
C. Societal marketing.
D. Product orientation.
63. A company focusing on gaining a competitive advantage through superior product quality and innovative features is primarily using which marketing management philosophy?
A. Production Orientation
B. Sales Orientation
C. Marketing Orientation
D. Product Orientation
64. What is ‘marketing myopia’?
A. Having a broad and far-sighted view of the market.
B. Focusing too narrowly on a company’s products rather than on consumer needs.
C. Ignoring the competition in the marketplace.
D. Investing heavily in marketing research.
65. What is the primary objective of ‘positioning’ a product?
A. To lower the price of the product.
B. To create a clear, distinctive, and desirable place for the product in the minds of target customers.
C. To increase the product’s availability in stores.
D. To maximize the product’s advertising budget.
66. Which of the following is NOT a key element of a market-oriented organization?
A. Customer focus
B. Competitor focus
C. Interfunctional coordination
D. Production efficiency as the top priority
67. What is ‘customer lifetime value’ (CLV)?
A. The total revenue a customer generates in a single transaction.
B. The predicted revenue a customer will generate during their entire relationship with a company.
C. The initial cost of acquiring a new customer.
D. The average profit margin on each product sold to a customer.
68. How does ‘differentiation’ contribute to a company’s competitive advantage?
A. By offering the lowest prices in the market.
B. By creating a unique and valued position in the minds of consumers.
C. By targeting all customer segments equally.
D. By minimizing marketing expenditures.
69. What is the key focus of ‘relationship marketing’?
A. Maximizing the number of transactions with customers.
B. Building long-term connections with customers by providing value and satisfaction.
C. Focusing solely on acquiring new customers.
D. Minimizing customer contact after the initial sale.
70. Which of the following is a key characteristic of a ‘service’ offering?
A. Tangibility
B. Standardization
C. Inseparability
D. Homogeneity
71. A company decides to lower its prices to increase sales volume. Which marketing management philosophy is it most likely following?
A. Societal Marketing Orientation
B. Sales Orientation
C. Marketing Orientation
D. Production Orientation
72. A company is analyzing its strengths, weaknesses, opportunities, and threats. What is this process called?
A. PEST analysis
B. SWOT analysis
C. Marketing audit
D. Competitor analysis
73. What is the role of marketing research in the marketing process?
A. To solely focus on advertising effectiveness.
B. To gather and analyze information about the market, customers, and competitors to inform marketing decisions.
C. To exclusively track sales data and revenue.
D. To manage the company’s public relations.
74. Which of the following is the best example of a ‘marketing objective’?
A. Develop a new product.
B. Increase market share by 10% in the next year.
C. Conduct market research.
D. Improve customer service.
75. What is the main difference between a ‘need’ and a ‘want’ in marketing?
A. A need is a basic requirement for survival, while a want is a desire for something specific.
B. A need is a desire for something specific, while a want is a basic requirement for survival.
C. There is no difference between a need and a want.
D. A need is something a company creates, while a want is something a customer already has.
76. What is ‘Integrated Marketing Communications’ (IMC)?
A. Using only one type of marketing communication channel.
B. Coordinating all promotional activities to deliver a consistent and unified message.
C. Ignoring customer feedback in marketing campaigns.
D. Focusing solely on advertising.
77. A company decides to focus its marketing efforts on a small, well-defined segment of the market. This is an example of:
A. Mass marketing
B. Niche marketing
C. Undifferentiated marketing
D. Product marketing
78. What is the primary goal of the marketing concept?
A. To maximize short-term profits at any cost.
B. To achieve organizational goals by satisfying customer needs and wants better than competitors.
C. To focus solely on product development and innovation.
D. To minimize marketing expenditures and focus on cost reduction.
79. Which of the following is the most accurate definition of marketing?
A. Marketing is primarily about advertising and sales promotions.
B. Marketing is the process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment.
C. Marketing is solely focused on increasing profits for a company.
D. Marketing is only relevant for large corporations.
80. Which of the following is NOT a typical function of marketing?
A. Product development
B. Pricing strategy
C. Financial accounting
D. Distribution management
81. Which of the following is the most direct result of successful marketing?
A. Increased production efficiency
B. Satisfied customers and profitable exchange relationships
C. Reduced competition
D. Lower operating costs
82. Which of the following is an example of ‘value’ in the context of marketing?
A. The price of a product.
B. The benefits a customer receives from a product or service, weighed against the costs.
C. The features of a product.
D. The brand name of a product.
83. What is the significance of understanding the ‘macroenvironment’ in marketing?
A. It has no impact on marketing decisions.
B. It helps identify broad trends and forces that can affect a company’s marketing strategy.
C. It only affects large multinational corporations.
D. It is only relevant for short-term planning.
84. Which of the following describes the ‘societal marketing concept’?
A. Focusing solely on maximizing profits for shareholders.
B. Balancing the needs of consumers, the company, and society as a whole.
C. Ignoring the environmental impact of business operations.
D. Prioritizing short-term gains over long-term sustainability.
85. What is the purpose of ‘market segmentation’?
A. To create a single marketing mix for all customers.
B. To divide a market into distinct groups of buyers with different needs or behaviors.
C. To increase the overall size of the market.
D. To reduce marketing expenses.
86. A coffee shop implements a loyalty program to reward repeat customers. This is an example of:
A. Transaction marketing
B. Relationship marketing
C. Guerilla marketing
D. Ambush marketing
87. Which element of the marketing mix involves decisions regarding channels, coverage, assortments, locations, inventory, and transportation?
A. Product
B. Price
C. Promotion
D. Place (Distribution)
88. A car manufacturer promoting the fuel efficiency and safety features of its vehicles is focusing on:
A. Price
B. Place
C. Product
D. Promotion
89. What is ‘brand equity’?
A. The total assets of a company.
B. The added value a brand gives to a product beyond its functional benefits.
C. The cost of creating a brand name.
D. The number of employees working for a brand.
90. Which of the following is NOT a force in the marketing environment?
A. Political and Legal forces
B. Economic forces
C. Technological forces
D. Internal rate of return
91. What is a ‘value proposition’?
A. A short description of the product’s features.
B. The set of benefits or values a company promises to deliver to consumers to satisfy their needs.
C. The cost of producing a product.
D. The company’s mission statement.
92. What is the core concept underlying marketing?
A. Selling
B. Advertising
C. Needs, wants, and demands
D. Production
93. Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is called:
A. Market segmentation
B. Market targeting
C. Market positioning
D. Market penetration
94. What is a ‘SWOT analysis’?
A. A financial statement used to assess a company’s profitability.
B. An evaluation of a company’s Strengths, Weaknesses, Opportunities, and Threats.
C. A method for segmenting the market.
D. A technique for measuring customer satisfaction.
95. What is ‘customer-perceived value’?
A. The actual cost of the product to the customer.
B. The customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.
C. The price of the product minus any discounts.
D. The profit margin the company makes on the product.
96. Which of the following is an example of a ‘brand evangelist’?
A. A celebrity spokesperson paid to promote a product.
B. A customer who enthusiastically recommends a product to others based on their positive experience.
C. A company executive who promotes the company’s products at industry events.
D. A social media influencer who receives free products in exchange for reviews.
97. A company that views marketing as primarily a selling function is likely to:
A. Focus on building long-term customer relationships.
B. Invest heavily in market research.
C. Emphasize aggressive promotional efforts to generate sales.
D. Prioritize customer satisfaction.
98. A company’s mission statement should be:
A. Focused solely on maximizing profits.
B. Market-oriented and defined in terms of satisfying basic customer needs.
C. Product-oriented and focused on the company’s technical expertise.
D. Vague and open to interpretation.
99. A company that focuses on producing goods efficiently without considering customer needs is exhibiting which orientation?
A. Marketing orientation
B. Selling orientation
C. Production orientation
D. Societal marketing orientation
100. What does ‘market segmentation’ involve?
A. Selling products in international markets.
B. Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors.
C. Analyzing the competitive landscape.
D. Developing new product ideas.
101. A company donating a portion of its profits to a charity aligned with its values is an example of:
A. Sales promotion
B. Production orientation
C. Societal marketing
D. Product placement
102. What is a ‘value chain’?
A. A series of departments that carry out value-creating activities to design, produce, market, deliver, and support a firm’s products.
B. The process of distributing products to customers.
C. The supply chain management process.
D. The financial performance of a company.
103. What is ‘customer equity’?
A. The total combined customer lifetime values of all of the company’s customers.
B. The percentage of customers who are satisfied with a company’s products.
C. The cost of acquiring new customers.
D. The total amount of money spent on marketing campaigns.
104. What is the purpose of ‘strategic planning’ in marketing?
A. To develop advertising campaigns.
B. To define the company’s overall mission and objectives.
C. To manage day-to-day marketing activities.
D. To analyze customer feedback.
105. What is ‘marketing ROI’?
A. The amount of money spent on marketing campaigns.
B. The net return from a marketing investment divided by the cost of the marketing investment.
C. The total sales revenue generated by a company.
D. The number of customers acquired through marketing efforts.
106. Which marketing philosophy emphasizes achieving organizational goals by understanding the needs and wants of target markets and delivering the desired satisfactions better than competitors do?
A. Product concept
B. Selling concept
C. Marketing concept
D. Production concept
107. Which of the following is a potential drawback of a production orientation?
A. High product quality.
B. Inability to adapt to changing customer needs.
C. Strong brand loyalty.
D. Efficient production processes.
108. Which of the following is NOT a component of the marketing mix (the 4 P’s)?
A. Product
B. Price
C. Promotion
D. Personnel
109. The societal marketing concept considers which three elements?
A. Company profits, customer wants, and short-run interests
B. Customer wants, society’s interests, and company profits
C. Product features, price, and promotion
D. Production efficiency, sales volume, and advertising reach
110. Which of the following is an example of ‘marketing myopia’?
A. Focusing on the long-term benefits of a product.
B. Defining a business in terms of its products rather than in terms of satisfying customer needs.
C. Adapting to changing market conditions.
D. Conducting thorough market research.
111. Building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is called:
A. Customer service
B. Customer relationship management
C. Advertising
D. Sales promotion
112. Which of the following is the first step in the marketing process?
A. Designing a customer-driven marketing strategy
B. Constructing an integrated marketing program
C. Understanding the marketplace and customer needs and wants
D. Building profitable relationships and creating customer delight
113. Which of the following best describes the ‘partner relationship management’ concept?
A. Building relationships only with the most profitable customers.
B. Working closely with partners in other company departments and outside the company to jointly bring greater value to customers.
C. Focusing solely on internal marketing efforts.
D. Managing relationships with competitors.
114. Which of the following is the most accurate definition of marketing?
A. Marketing is primarily concerned with advertising and sales promotions.
B. Marketing is the process of creating, distributing, promoting, and pricing goods and services to a target market.
C. Marketing is simply about making a profit by selling products.
D. Marketing is focused solely on identifying customer needs.
115. What is the difference between ‘needs’ and ‘wants’ in marketing?
A. Needs are culturally shaped, while wants are basic human requirements.
B. Needs are basic human requirements, while wants are how people communicate their needs.
C. Needs are desires, while wants are necessities.
D. There is no difference; the terms are interchangeable.
116. Selecting one or more segments to enter is known as:
A. Market segmentation
B. Market targeting
C. Market positioning
D. Market penetration
117. A market is defined as:
A. A physical location where goods are sold.
B. A group of people with similar demographics.
C. The set of actual and potential buyers of a product or service.
D. The process of advertising a product.
118. What is ‘customer lifetime value’?
A. The total sales revenue a customer generates in a single transaction.
B. The predicted revenue a business can reasonably expect from a single customer account.
C. The combined sales of all customers.
D. The cost of acquiring a new customer.
119. Which marketing orientation holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do?
A. The production concept
B. The product concept
C. The selling concept
D. The marketing concept
120. Which of the following is NOT a core marketing management task?
A. Analyzing the market environment
B. Managing the marketing effort
C. Developing marketing strategies and plans
D. Overseeing the company’s legal department
121. What is the first step in the marketing process?
A. Designing a customer-driven marketing strategy.
B. Constructing an integrated marketing program.
C. Understanding the marketplace and customer needs and wants.
D. Building profitable relationships and creating customer delight.
122. What is the potential downside of focusing exclusively on customer satisfaction?
A. Lower product quality
B. Decreased customer loyalty
C. Reduced profitability if not managed efficiently
D. Increased employee turnover
123. A company that focuses on building strong relationships with a select group of high-value customers is practicing:
A. Mass marketing
B. Target marketing
C. Partner relationship management
D. Selective relationship management
124. Which of the following marketing mix elements is most closely associated with distribution channels?
A. Price
B. Product
C. Promotion
D. Place
125. How can companies best combat marketing myopia?
A. By focusing on short-term sales goals.
B. By defining their mission in terms of customer needs and benefits.
C. By producing only the most innovative products.
D. By ignoring competitor activities.
126. What is the definition of a ‘value proposition’?
A. A statement of the company’s mission and values.
B. The set of benefits or values a company promises to deliver to consumers to satisfy their needs.
C. A detailed financial analysis of the company’s profitability.
D. A description of the company’s organizational structure.
127. A company decides to lower its prices to gain a larger market share. This is a decision related to which element of the marketing mix?
A. Product
B. Place
C. Promotion
D. Price
128. What is the primary goal of marketing, according to the marketing concept?
A. To maximize short-term profits through aggressive selling.
B. To achieve organizational goals by creating value and building profitable relationships with target customers.
C. To minimize costs and maximize efficiency in production and distribution.
D. To develop the most innovative products and technologies available.
129. What is ‘marketing myopia’?
A. A focus on fulfilling immediate customer needs rather than anticipating future needs.
B. A short-sighted focus on selling products and services, rather than seeing the ‘big picture’ of what consumers really want.
C. A marketing strategy that targets a small, niche market.
D. A failure to adapt to changes in the external marketing environment.
130. Which of the following is the most accurate definition of ‘market’?
A. A physical place where buyers and sellers meet.
B. A set of actual and potential buyers of a product or service.
C. The total number of consumers in a country.
D. The process of selling goods and services.
131. What is ‘customer relationship management’ (CRM)?
A. A system for managing the company’s finances.
B. The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.
C. A strategy for reducing marketing expenses.
D. A method for tracking employee performance.
132. A company asks its customers for suggestions on how to improve its products. This is an example of:
A. Product development
B. Customer-driven marketing
C. Sales promotion
D. Market research
133. What is the purpose of ‘partner relationship management’?
A. To manage relationships with competitors.
B. To work closely with partners in other company departments and outside the company to jointly bring more value to customers.
C. To reduce the number of suppliers the company works with.
D. To manage relationships with government regulators.
134. A local bakery decides to donate a portion of its profits to a local charity. This is an example of:
A. The Production Concept
B. The Selling Concept
C. The Marketing Concept
D. The Societal Marketing Concept
135. What is the purpose of market segmentation?
A. To offer the same products to all customers.
B. To divide a market into distinct groups of buyers who have different needs, characteristics, or behaviors.
C. To increase the overall size of the market.
D. To reduce marketing costs.
136. A company focusing solely on lowering production costs to offer the lowest prices is primarily employing which marketing orientation?
A. The Marketing Concept
B. The Production Concept
C. The Selling Concept
D. The Societal Marketing Concept
137. Which of the following best describes ‘share of customer’?
A. The percentage of the company’s sales compared to the total market sales.
B. The portion of the customer’s purchasing that a company gets in its product categories.
C. The number of new customers acquired in a specific period.
D. The total number of customers a company serves.
138. A car manufacturer designs a fuel-efficient and environmentally friendly vehicle in response to growing consumer demand for sustainable products. This best reflects which marketing orientation?
A. Production Concept
B. Selling Concept
C. Marketing Concept
D. Societal Marketing Concept
139. Which element of the marketing mix refers to the goods-and-services combination the company offers to the target market?
A. Price
B. Promotion
C. Place
D. Product
140. A company that defines its mission as ‘making, selling, and distributing superior products’ is most likely suffering from:
A. Market segmentation
B. Marketing myopia
C. Customer relationship management failure
D. Product differentiation
141. Which of the following scenarios best illustrates the application of the ‘selling concept’?
A. A company conducts extensive market research to understand customer needs before developing a product.
B. A company invests heavily in advertising and personal selling to convince customers to buy what it produces.
C. A company focuses on building long-term relationships with customers through excellent service.
D. A company designs products that are both profitable and environmentally sustainable.
142. What is the focus of the ‘societal marketing concept’?
A. Meeting the immediate needs of consumers.
B. Balancing company profits, consumer wants, and society’s interests.
C. Maximizing sales volume regardless of environmental impact.
D. Reducing production costs through outsourcing.
143. Which of the following is NOT a core marketing management task?
A. Customer relationship management
B. Demand management
C. Brand management
D. Human resource management
144. How does ‘customer lifetime value’ (CLV) impact marketing decisions?
A. It encourages a short-term, transactional approach to customer relationships.
B. It emphasizes the importance of building long-term, profitable relationships with customers.
C. It focuses solely on minimizing marketing expenses.
D. It is irrelevant to marketing decision-making.
145. Which of the following is the most direct result of successful customer relationship management?
A. Increased production efficiency
B. Higher customer lifetime value
C. Lower marketing costs
D. Greater market share
146. Which of the following is an example of ‘customer-perceived value’?
A. The actual cost of producing a product.
B. The customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.
C. The company’s profit margin on a product.
D. The number of units sold in a given period.
147. What role does ‘sustainability’ play in modern marketing practices?
A. It is irrelevant to marketing decisions.
B. It is a key consideration in product development, packaging, and supply chain management.
C. It is only important for non-profit organizations.
D. It increases costs without providing any benefits.
148. A software company offers free online tutorials and personalized support to help customers effectively use its products. This is primarily an example of:
A. Production-oriented marketing
B. Sales-oriented marketing
C. Customer relationship management
D. Product-oriented marketing
149. Which of the following is the best example of a company adapting to the ‘digital age’ in marketing?
A. Increasing print advertising spending.
B. Developing a mobile app for customer engagement.
C. Reducing customer service staff.
D. Ignoring social media trends.
150. How does understanding the ‘changing marketing landscape’ impact a company’s strategy?
A. It allows the company to ignore external factors and focus solely on internal operations.
B. It enables the company to adapt its strategies to new technologies, globalization, and ethical concerns.
C. It encourages the company to stick to traditional marketing methods.
D. It has no impact on the company’s strategy.
