MARKETING AN INTRODUCTION 14TH
EDITION ACTUAL EXAM UPDATED
COMPLETE QUESTIONS AND CORRECT
ANSWERS
◉ Needs
Answer: States of felt deprivation
◉ Wants
Answer: The form human needs take as they are shaped by culture
and individual personality
◉ Demands
Answer: Human want that are backed by buying power
◉ Market offerings
Answer: Some combination of products, services, information, or
experiences offered to a market to satisfy a need or want
◉ Marketing myopia
, Answer: The mistake of paying more attention to the specific
products a company offers than to the benefits and experiences
produced by these products
◉ Exchange
Answer: The act of obtaining a desired object from someone by
offering something in return
◉ Market
Answer: The set of all actual and potential buyers of a product or
service
◉ Marketing management
Answer: The art and science of choosing target markets and building
profitable relationships with them
◉ Production concept
Answer: The idea that consumers will favor products that are
available and highly affordable; therefore, the organization should
focus on improving production and distribution efficiency
◉ Product concept
Answer: The idea that consumers will favor products that offer the
most quality, performance, and features; therefore, the organization
EDITION ACTUAL EXAM UPDATED
COMPLETE QUESTIONS AND CORRECT
ANSWERS
◉ Needs
Answer: States of felt deprivation
◉ Wants
Answer: The form human needs take as they are shaped by culture
and individual personality
◉ Demands
Answer: Human want that are backed by buying power
◉ Market offerings
Answer: Some combination of products, services, information, or
experiences offered to a market to satisfy a need or want
◉ Marketing myopia
, Answer: The mistake of paying more attention to the specific
products a company offers than to the benefits and experiences
produced by these products
◉ Exchange
Answer: The act of obtaining a desired object from someone by
offering something in return
◉ Market
Answer: The set of all actual and potential buyers of a product or
service
◉ Marketing management
Answer: The art and science of choosing target markets and building
profitable relationships with them
◉ Production concept
Answer: The idea that consumers will favor products that are
available and highly affordable; therefore, the organization should
focus on improving production and distribution efficiency
◉ Product concept
Answer: The idea that consumers will favor products that offer the
most quality, performance, and features; therefore, the organization
