MGT301 Quiz 1 2021 by VUBuddy

MGT301 SOLVED QUIZ 1 2021

Effort by Sarim

Q1. Product, price, place and promotion make up the elements of a firm’s marketing mix.

1. True (Chapter no 1 Original Book Page no 34)
2. False

Correct answer: True (Chapter no 1 Original Book Page no 34)

Q2. Selling is managing profitable customer relationships.

1. True
2. False (Lesson no 44 Page no 220 Old Handouts)

Correct answer: False (Lesson no 44 Page no 220 Old Handouts)

Q3. Human needs are shaped by culture and individual personality.

1. True
2. False (Chapter no 1 Original Book Page no 8)

Correct answer: False (Chapter no 1 Original Book Page no 8)

4. The twofold goal of marketing is to attract new

customers by promising superior value and to keep and grow current customers by delivering satisfaction.

A. True (Lesson no 44 Page no 220 Old Handouts)

B. False

Q5. When backed by buying power, needs become demands.

1. True
2. False (Lesson no 2 Page no 11 Old Handouts and Lesson no 44 Page no 222 Old Handouts)

Correct answer: False (Lesson no 2 Page no 11 Old Handouts and Lesson no 44 Page no 222 Old Handouts)

Q6. At times it becomes necessary to reduce demand for some products and services. When the government tries to reduce the smoking of tobacco products, it adds more tax to the products and is practicing demarketing.

1. True
2. False

Correct answer: True

Q12. Customer-perceived value depends on the product’s perceived performance relative to a buyer’s expectations.

1. True
2. False (Lesson no 2 Page no 11 Old Handouts)

Correct answer: False (Lesson no 2 Page no 11 Old Handouts)

Q13. Marketing management is interested in serving all customers in every way to remain competitive in today’s markets.

1. True
2. False (Not sure)

Correct answer: False (Not sure)

Q14. The difference between human needs and wants is that needs are states of felt deprivation.

1. True
2. False

Correct answer: True