MGT 2013 - Principle of Marketing (Chapter 1)

Human needs are states of lacking something necessary in a person. Which of below states the example of individual needs.

• Food, clothing, warmth and safety

• Belonging and affection

• Knowledge and self-expression

• Love and marriage

There are 5 marketing management philosophies except

• The Production Concept

• The Product Concept

• The Buying Concept

• The Societal Marketing Concept

Clear Communication and Disclosure are the examples of

• Ethical Decision Making

• Transparency

• Social Responsibility

• Respect for consumer privacy

Principles and standards that guide the behavior of individuals and organizations in marketing is the definition of

• Selling Ethics

• Buying Ethics

• Production Ethics

• Marketing Ethics

Below are solutions to overcome ethical issues in marketing except

• Ethical Code

• Seller Audit

• Regulation and Enforcement

• Corporate Social Responsibility (CSR)

Which statement below is incorrect about domestic marketing

• Focuses on marketing products or services within a single country

• Greater familiarity with local consumer behavior, preferences and cultural nuances

• Operates within the economic conditions of one country, including currency fluctuations and inflation rates

• Need to comply with international regulations and standards which can vary significantly between countries

Below are the key concepts in marketing ethics except

• Liberal Decision Making

• Honesty and Fairness

• Social Responsibility

• Respect of Consumer Privacy

The idea that consumers will not buy enough of the organization's product unless the organization undertakes a large scale selling and promotion efforts. This statement refers to ______.

• Marketing Concept

• Product Concept

• Selling Concept

• Production Concept

Size of markets depends on multiple factors except

• Number of people who exhibit the need

• Have resources to engage in exchange

• Type of transportation owns by the seller

• Willing to offer these resources in exchange for what they want

Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Which marketing offers below best describe the statement

• Products

• Services

• Experiences

• Preferences