Q. Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers refers to which of the following options? Customer perceived valueMarketing myopiaCustomer relationship managementCustomer satisfaction Answer: ...

Q. A firm has decided to localize its products and services to meet local market demands. Which one of the following approaches is a good approach for this segmentation? GeographicDemographicPsychographicsBehavioural Answer: Geographic

Q. Which one of the following statements by a company chairman BEST reflects the marketing concept? We have organized our business to satisfy the customer needsWe believe that the marketing department must organize to sell what we produceWe try to produce only high quality, technically ...

Q. The buying process starts from which one of the following stages in which the buyer recognizes a problem or need Need recognitionInformation searchEvaluation of alternativePurchase decision Answer: Need recognition

Q. Which one of the following concepts is a useful philosophy in a situation when the product’s cost is too high and marketers look for ways to bring it down? Selling conceptProduct conceptProduction conceptMarketing concept Answer: Production concept

Q. The mental act, condition or habit of placing trust or confidence in another, shows which of the following options? MotiveBeliefBehaviourAttitude Answer: Belief

Q. Which is NOT the stage that customers go through in the process of adopting a new product? AwarenessInterestEvaluationCulture Answer: Culture

Q. What does this statement show “Trade of value between two parties”? CompetitionTransactionExchangeNeed Answer: Transaction

Q. Buying goods and services for further processing or for use in the production process refers to _________ Consumer marketsGovernment marketsBusiness marketsInternational markets Answer: Business markets

Q. After concept testing, a firm would engage in __________ for developing and marketing a new product? Marketing Strategy Development StageBusiness Analysis StageProduct Development StageTest Marketing Stage Answer: Marketing Strategy Development Stage