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Some examples from this set of practice questions
1.
What is Marketing
Answer: is the activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
2.
What is a Exchange
Answer: the trade of things of value between a buyer and a seller
3.
What is a Market
Answer: A market consists of people with both the desire and the ability to buy a specific offering.
4.
What are needs
Answer: Things people need to survive(Food, Water Shelter)
5.
What are wants
Answer: Wants are items not necessary for survival, typically shaped by culture
6.
What is a target market
Answer: The audience that your product is designed for. ex: (baby clothing commercial target parents)
7.
Marketing Mix
Answer: The four P\'s: product, price place, promotion.
8.
What are environmental forces
Answer: Uncontrollable factors split into five categories: Social. Competitive, Economic, Regulatory and Technological
9.
What is customer value
Answer: the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.
10.
what is relationship marketing
Answer: Relationship marketing links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit.
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