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Chapter 1 Revision Sheet

This document discusses key concepts in marketing including the four major marketing philosophies. It provides examples of each philosophy and asks questions to test understanding of needs vs wants, demand, the marketing mix, and definitions of marketing. The document appears to be introductory learning material on basic marketing concepts.

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ALINA Zohq
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© © All Rights Reserved
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Download as DOCX, PDF, TXT or read online on Scribd
100 views

Chapter 1 Revision Sheet

This document discusses key concepts in marketing including the four major marketing philosophies. It provides examples of each philosophy and asks questions to test understanding of needs vs wants, demand, the marketing mix, and definitions of marketing. The document appears to be introductory learning material on basic marketing concepts.

Uploaded by

ALINA Zohq
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Unit 1 INTRODUCTION TO MARKETING

1. The ________ concept holds that consumers and businesses, if left alone, will ordinarily not
buy enough of the organization’s products.
Production
selling
marketing
holistic marketing
2. Adding new features to a product is advocated by which of the approaches?
Product Approach
Production Approach
Marketing Approach
Selling Approach
3. The act of trading a desired product or service to receive something of value in return is
known as which key concept in marketing?
product
exchange
production
customer
4. The ________ is practiced most aggressively with unsought goods, goods that buyers
normally do not think of buying, such as insurance, encyclopedias, and funeral plots.
marketing concept
selling concept
production concept
product concept
holistic marketing concept

5. ________ marketing has the aim of building mutually satisfying long-term relations with key
parties such as customers, suppliers, distributors, and other marketing partners in order to earn
and retain their business.
Holistic
Demand-based
Direct
Relationship
6. Of the four competing philosophies, the Furniture Industry is an example of what kind of
orientation:
Sales Orientation
Societal Marketing Orientation
Marketing Orientation
Production Orientation
7. When a manager focuses on making whatever products are easy to produce, and then trying
to sell them, that manager has a ___________________ orientation.
Marketing
Production
Sales
Profit
8. Wal-Mart has become the world’s largest retailer by delivering on its promise,
“Always low prices—always.” This would be an example of the marketing philosophy that says:
a. “Take care of your customers, and market share and profits will follow.”
b. “Buy cheap, sell cheap.”
c. “Always take discounts and pass some of them on to consumers.”
d. “Distribution is the secret to all conquests in marketing.”
9. __________ are shaped by one’s society and are described in terms of objects.
a. Needs
b. Wants
c. Demands
d. Transactions
10. When faced with overcapacity, most firms practice _________________.
a. the marketing concept
b. the product concept.
c. the production concept
d. the selling concept
11. Marketing locally and globally, conducting e-commerce in marketspaces, and
assuming social and environmental responsibility would be examples of which form of thinking?
a. the new marketing thinking
b. the old marketing thinking
c. global marketing
d. relationship marketing thinking
12. Define marketing and identify any 2 important features of marketing.

13. Clearly differentiate between needs, wants and demand.

14. Define marketing management philosophies. Identify the marketing philosophies


concepts in the following situations.
a. The concept of marketing which suggests earning profits through customer’s
satisfaction and social welfare.
b. b. The concept of marketing which emphasizes on earning profit by producing and
selling the goods at a mass scale
c. The concept of marketing which holds that customers would not buy or not buy
enough of a firm’s products unless they are adequately convinced and motivated to do
so.
d. The concept of marketing which suggests earning profits through customer’s
satisfaction.
e. The concept of marketing which suggests producing superior products, improving
their qualities and incorporating new features better than the competitors’.
15. Mr.Aryan is a C.A. He has his own consultancy firm, He helps his customers plan their
investment and file returns. Explain the scope of marketing Mr.Aryan is working for.

16.” The twofold goal of marketing is to attract new customers by promising superior value and
to keep and grow current customers by delivering satisfaction.” Explain

17. One party gives X to another party and gets Y in return. This would be an example of a
transaction. Why?
18. An advertisement in a national newspaper announces that Norah Jones is going to perform
in Delhi soon, and the tickets for the life performance are available for sale now. In order of
relevance, list everything what is being promoted, and is being sold separately.

19. Match the following statements with the relevant philosophies being followed in the
statement:

Statement Marketing Philosophy


a Our product is the best in class, so it would be a Sales concept
in much demand
b A product is product is a product! You just b Marketing concept
need to convince the consumer.
c Consumers are not disciplined, we need to c Production concept
care for what we offer them
d Needs generate demand d Product concept
e Consumer prefer lower price products e Societal marketing concept

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