Busi 520 - Liberty University Exam
Questions With Correct Answers
What |is |Marketing |- |CORRECT |ANSWER✔✔-the |activity, |set |of |institutions, |and |
processes |for |creating, |communicating, |delivering, |and |exchanging |offerings |
that |have |value |for |customers, |clients, |partners, |and |society |at |large.
What |is |Marketing |Management? |- |CORRECT |ANSWER✔✔-the |art |and |science |
of |choosing |target |markets |and |getting, |keeping, |and |growing |customers |
through |creating, |delivering, |and |communicating |superior |customer |value.
What |is |marketed? |- |CORRECT |ANSWER✔✔-Goods, |services, |events, |
experiences, |persons, |places, |properties, |organizations, |information, |ideas.
Who |Markets? |- |CORRECT |ANSWER✔✔-Marketers |and |prospects.
Who |is |a |Marketer |- |CORRECT |ANSWER✔✔-Someone |who |seeks |a |response |- |
attention, |a |purchase, |a |vote, |or |a |donation.
Who |is |a |prospect? |- |CORRECT |ANSWER✔✔-The |person |a |marketer |is |trying |to |
sell |something |to.
What |are |the |8 |possible |demand |states |- |CORRECT |ANSWER✔✔-1. |Negative |
Demand
2. |Nonexistent |Demand
3. |Latent |Demand
4. |Declining |Demand
5. |Irregular |Demand
, 6. |Full |Demand
7. |Overfull |Demand
8. |Unwholesome |Demand
What |are |the |4 |key |customer |markets? |- |CORRECT |ANSWER✔✔-1. |Consumer |
Markets
2. |Business |Markets
3. |Global |Markets
4. |Nonprofit/Governmental |Markets
What |is |a |Consumer |Market? |- |CORRECT |ANSWER✔✔-Companies |that |sell |
mass |consumer |goods |and |services |in |order |to |develop |strong |brand |image |
through |superior |product |or |service
What |is |a |Business |Market? |- |CORRECT |ANSWER✔✔-Companies |selling |
business |goods |and |services |but |the |sales |force, |price, |and |reputation |plays |a |
role |in |determining |best |service |or |product
What |is |a |Global |Markets? |- |CORRECT |ANSWER✔✔-Culture, |language, |legal, |
and |political |differences |determine |how |business |enter, |adapt, |and |set |prices
What |is |a |Nonprofit/Governmental |Markets? |- |CORRECT |ANSWER✔✔-
Companies |focus |on |the |most |practical |solution |at |the |best |price.
What |is |a |Need? |- |CORRECT |ANSWER✔✔-Basic |requirement |for |survival
What |is |a |Want? |- |CORRECT |ANSWER✔✔-Specific |objects |that |might |satisfy |
the |need
Questions With Correct Answers
What |is |Marketing |- |CORRECT |ANSWER✔✔-the |activity, |set |of |institutions, |and |
processes |for |creating, |communicating, |delivering, |and |exchanging |offerings |
that |have |value |for |customers, |clients, |partners, |and |society |at |large.
What |is |Marketing |Management? |- |CORRECT |ANSWER✔✔-the |art |and |science |
of |choosing |target |markets |and |getting, |keeping, |and |growing |customers |
through |creating, |delivering, |and |communicating |superior |customer |value.
What |is |marketed? |- |CORRECT |ANSWER✔✔-Goods, |services, |events, |
experiences, |persons, |places, |properties, |organizations, |information, |ideas.
Who |Markets? |- |CORRECT |ANSWER✔✔-Marketers |and |prospects.
Who |is |a |Marketer |- |CORRECT |ANSWER✔✔-Someone |who |seeks |a |response |- |
attention, |a |purchase, |a |vote, |or |a |donation.
Who |is |a |prospect? |- |CORRECT |ANSWER✔✔-The |person |a |marketer |is |trying |to |
sell |something |to.
What |are |the |8 |possible |demand |states |- |CORRECT |ANSWER✔✔-1. |Negative |
Demand
2. |Nonexistent |Demand
3. |Latent |Demand
4. |Declining |Demand
5. |Irregular |Demand
, 6. |Full |Demand
7. |Overfull |Demand
8. |Unwholesome |Demand
What |are |the |4 |key |customer |markets? |- |CORRECT |ANSWER✔✔-1. |Consumer |
Markets
2. |Business |Markets
3. |Global |Markets
4. |Nonprofit/Governmental |Markets
What |is |a |Consumer |Market? |- |CORRECT |ANSWER✔✔-Companies |that |sell |
mass |consumer |goods |and |services |in |order |to |develop |strong |brand |image |
through |superior |product |or |service
What |is |a |Business |Market? |- |CORRECT |ANSWER✔✔-Companies |selling |
business |goods |and |services |but |the |sales |force, |price, |and |reputation |plays |a |
role |in |determining |best |service |or |product
What |is |a |Global |Markets? |- |CORRECT |ANSWER✔✔-Culture, |language, |legal, |
and |political |differences |determine |how |business |enter, |adapt, |and |set |prices
What |is |a |Nonprofit/Governmental |Markets? |- |CORRECT |ANSWER✔✔-
Companies |focus |on |the |most |practical |solution |at |the |best |price.
What |is |a |Need? |- |CORRECT |ANSWER✔✔-Basic |requirement |for |survival
What |is |a |Want? |- |CORRECT |ANSWER✔✔-Specific |objects |that |might |satisfy |
the |need
