Marketing is the process of
a) promoting products through personal selling and advertising to develop and maintain favorable relationships with customers and stakeholders.
b) creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment.
c) delivering a standard of living to a society.
d) creating, distributing, promoting, and pricing goods, services, and ideas to facilitate the achievement of the firm's objectives.
e) focusing on customers' needs.
Ans: b AACSB: Communication CBE: Model Marketing Plan Difficulty level: Moderate Page: 4 Type: Knowledge
The definition of marketing implies that ______ should receive benefits from exchange relationships.
a) only customers
b) only businesses
c) company management
d) both customers and businesses
e) only the most important customers
Ans: d AACSB: Communication CBE: Model Marketing Plan Difficulty level: Easy Page: 4 Type: Knowledge
The marketing concept is best defined as
a) a second definition of marketing.
b) a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals.
c) the performance of business activities that direct the flow of goods and services from producer to customer or user.
d) a philosophy stating that an organization should attempt to accomplish its goals with no regard for the needs of customers.
e) the inclusion of marketing activities in the activities of an organization.
Ans: b AACSB: Reflective Thinking CBE: Model Strategy Difficulty level: Easy Page: 11 Type: Knowledge

63. According to the marketing concept, an