Marketing Knowledge TEST

Which of the following is the best definition of marketing?

• Selling products to anyone who will buy them

• Creating, communicating, delivering, and exchanging offerings that have value for customers

• Advertising products using social media platforms

• Developing only products that meet company goals

The marketing concept focuses on:

• Lowering prices as much as possible

• Meeting customer needs while achieving company goals

• Promoting only luxury goods

• Producing large quantities of products

A need is best described as:

• Something you would like to have but can live without

• A cultural desire passed down from family traditions

• Something essential for survival or basic living

• A trend created by celebrities

Which of the following is an example of a current trend in marketing?

• Using only newspaper ads to reach customers

• Using influencer partnerships on TikTok to promote brands

• Refusing to use technology in promotions

• Selling products without customer feedback

Which of the following is NOT a function of marketing?

• Pricing

• Promotion

• Distribution

• Manufacturing

Why is marketing important to the economy?

• It only benefits large corporations

• It increases unemployment rates

• It creates jobs, drives sales, and encourages innovation

• It prevents businesses from competing

Which of the following is a benefit of marketing?

• Decreasing product awareness

• Increasing unemployment rates

• Helping customers make informed buying decisions

• Eliminating competition

A company that creates products based on what customers want is applying which idea?

• Marketing concept

• Production concept

• Supply chain concept

• Price competition

Which of the following is an example of a business applying the marketing concept?

• Ignoring customer feedback

• Producing goods without researching the market

• Designing a phone case after surveying customers about features

• Increasing prices without explanation

Marketing benefits society because it:

• Decreases the need for new ideas

• Encourages innovation and competition

• Eliminates small businesses

• Limits consumer choices