LESSON 1 MARKETING

Question 1

is the art and science of creating tangible products or services and retaining them to attain profitable operations.

Answer 1

Marketing

Question 2

An integrated process through which companies create value for customers and build strong customer relationships to capture value from customers in return.

Answer 2

Marketing

Question 3

The process for creating, communicating, and delivering value to customers for managing customers relationships in ways that benefits the organizations and it’s stakeholders.

Answer 3

American Marketing Association Or AMA

Question 4

A social and managerial process where by individuals and groups obtain what they need and want through creating and exchanging products and value with others.

Answer 4

Dr. Philip Kotler

Question 5

Two Interacting Components of Marketing .

Answer 5

Company ———————– Market

Question 6

• The product or service must have specific benefits the satisfy the functional or emotional needs.

Answer 6

Needs

Question 7

holds that the key to achieving organizational goals consist of determining the needs and wants of target markets and delivering satisfaction more effectively and efficiently than competitors do.

Answer 7

Garovillas (2004),