BUS 475 SAMPLE QUIZ

1) All of the following are accurate descriptions of modern marketing today, except which one? A) Marketing is creation of value for customers. B) Marketing is customer satisfaction at a profit. C) Selling and advertising are synonymous with marketing. D) Marketing involves building and managing profitable customer relationships. E) None of the above statements is true. 2) _____ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation. A) Selling B) Advertising C) Barter D) Marketing E) None of the above is correct. 3) _____ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs. A) Selling myopia B) Marketing C) Selling D) Marketing myopia E) Share of customer 4) When backed by buying power, wants become _____. A) Social needs B) Demands C) Physical needs D) Self-esteem needs E) Exchanges 5) _____ are key building blocks for developing and managing customer relation