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CM1 Questions with correct answers.
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CM1 Questions with correct answers.
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CM1 Questions with correct answersProduction and marketing together create utility Correct Answer-What is
marketing?
Communicating information about those goods and services to
prospective buyers
. Correct Answer-What is marketing? (1)
Making the products available when and where customers want them
. Correct Answer-What is marketing? (2)
Pricing merchandise and services
.
Providing after-sales service and following-up Correct Answer-What is
marketing? (3,4)
The want-satisfying power of a good or service Correct Answer-What is
utility
Form. Time. Place. Ownership Correct Answer-Four types of utility
Form Correct Answer-Conversion of raw materials and components into
finished goods and services
Time Correct Answer-availability of good and services when consumers
want them
, Place Correct Answer-Availability of goods and services at convenience
locations
Ownership Correct Answer-ability to transfer title to goods or services
from marketer to buyer
All organizations must create utility to survive Correct Answer-
Foundation for the creation of utility— designing, marketing want-
satisfying goods, services, and ideas
Activities marketers perform to create customers Correct Answer-
Identifying needs in the market place
Marketing specialists are responsible for the activities necessary to
create the customers Correct Answer-Identifying customer needs
,Designing products that meet those needs
Marketing Correct Answer-An organizational function and a set of
processes for:
Creating, communicating, and delivering value to customers.
Managing customer relationships in ways that benefit the organization
and its stakeholders
Exchange process Correct Answer-Activity in which two or more parties
give something of value to each other to satisfy perceived need
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