Title: What is Marketing?
Course: Demo 1

Q: Marketing is best defined as the activities, organizations, and processes for ________.
- designing, building, delivering and supporting a product or service
- advertising, building awareness of and promoting an object of value for customers
- creating, communicating, delivering, and exchanging offerings customers value
A: creating, communicating, delivering, and exchanging offerings customers value

Q: What singular focus is at the center of everything marketing does?
- promotion: the advancement of a product or idea through publicity and/or advertising
- profit: the financial gain realized when revenue gained from a business activity exceeds its costs
- value: the benefits buyers receive from an offering that meets their needs
A: value: the benefits buyers receive from an offering that meets their needs

Q: The personal value equation for each customer is the benefits they receive by consuming a company’s offering, ________.
- plus the price they paid and the time and effort they put into the shopping process
- plus the amount of pleasure they receive from the shopping process, which differs for each person
- minus the price they paid and the time and effort they put into the shopping process
A: minus the price they paid and the time and effort they put into the shopping process

Q: Which of the following are functions of marketing?
- understanding customer needs
- defining product pricing
- creating interactive dialogue with customers
A: understanding customer needs; defining product pricing; creating interactive dialogue with customers

Q: Which of the following are functions of marketing?
- building awareness of new products
- providing customer service
- improving production processes
A: building awareness of new products; providing customer service

Q: Communication-related marketing activities include ________.
- learning from customers what they want and like
- educating potential customers about the value of an offering
- motivating employees to work together more effectively
A: learning from customers what they want and like; educating potential customers about the value of an offering

Q: As head of marketing at a small business, you are trying to help the leadership team understand how your department can provide strategic value for the business. Which of the following statements correctly explain the role marketing should play?
- Marketing helps the company focus on understanding and responding to customer needs.
- Marketing helps the company create, communicate, and deliver value to customers.
- Marketing determines customer expectations and how to meet them.
A: Marketing helps the company focus on understanding and responding to customer needs.; Marketing helps the company create, communicate, and deliver value to customers.