MKT 108: Introduction To Marketing : Leeway Marketplace

1. What was the major focus of the sales era in marketing history?

Promoting effective channels for product distribution.

Producing enough goods to meet expected demand.

Implementing digital marketing techniques.

Understanding consumer behavior to create targeted products.

2. Which of the following conditions is NOT essential for the existence of a market?

There must be a system of communication between buyers and sellers.

There must be potential buyers with the desire to purchase.

There must be sellers offering products or services for exchange.

Buyers and sellers must be in the same geographic location.

3. What is the primary difference between a ‘need‘ and a ‘want‘ in marketing?

Needs are numerous, while wants are few.

Wants are basic human requirements, while needs are shaped by society.

Needs are essential for survival, while wants are desires shaped by culture and society.

Needs are created by marketers, while wants are natural.

4. What is the primary difference between the production and marketing concepts?

The production concept prioritizes customer feedback, while the marketing concept focuses on inventory management.

The production concept is more concerned with advertising, while the marketing concept emphasizes price.

The production concept focuses on satisfying consumer needs, while the marketing concept focuses on maximizing output.

The production concept focuses on creating mass-produced goods, while the marketing concept focuses on meeting consumer needs and wants.

5. According to Kotler (1984), which of the following is NOT one of the conditions necessary for an exchange to take place?

Each party must have something of value to offer.

Each party must believe it is appropriate to deal with the other.

Each party must be able to negotiate the terms of the exchange.

There must be at least two parties.

6. In which era did marketing departments start gaining prominence in organizations?

Agrarian economy era

Marketing control era

Sales era

Manufacturing era

7. Which of the following is a key role of marketing in socio-economic development?

Reducing competition between businesses.

Supporting entrepreneurial growth and discovering talent.

Creating monopolistic markets.

Limiting consumer spending to save resources.

8. Which of the following is NOT a necessary condition for marketing exchange to occur?

Each party must be capable of communication and delivery.

There must be a written contract between the parties.

There must be at least two parties.

Each party must have something of value to offer.

9. Which era in the evolution of marketing was primarily focused on addressing shortages of consumer goods due to war?

Agrarian economy

Sales era

Marketing control era

War era

10. Why did the concept of consumerism emerge in the marketing evolution?

Consumers wanted more variety in product options.

Companies failed to properly segment the market.

Mass production led to fewer choices for consumers.

The marketing concept did not fully meet consumer needs.

Question 1 of 10

Leeway Marketplace

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MKT 108: Introduction To Marketing

Curriculum

Unit 1: Introduction

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