Q. When customer expectations regarding product quality, service quality, and value-based price are met or exceeded, _____ is created. customer satisfaction planning excellence a quality rift a value line Answer: customer satisfaction

Q. The ____ concept holds that consumers will favour products that offer the most in quality, performance and innovative features. Marketing Production Product Selling Answer: Product

Q. ______is a cluster of complementary products and services that are closely related in the minds of consumers but spread across a diverse set of industries. Marketspace Marketplace Metamarket Marketpace Answer: Metamarket

Q. Transporting and storing goods is part of which of the following marketing channel functions? Inventory Channel Direct Marketing Channel Physical Distribution Channel Warehousing Channel Answer: Physical Distribution Channel

Q. If the focus is on social and ethical concerns in marketing’ is characteristic of the _________ period. Production Sales Marketing Societal marketing Answer: Societal marketing

Q. Which one of the following is a key to build lasting relationships with consumers? Price of the product Need recognition Customer satisfaction Quality of product Answer: Customer satisfaction

Q. The key customer markets consist of ____________ Government Markets Business Markets Consumer Markets All of the above Answer: All of the above

Q. _________ upholds the importance of the customer in the whole value creation process. The D.A.R.T highlights this aspect in a vivid manner. Contemporary Model Conventional Model Both a&b None of the above Answer: Contemporary Model

Q. __________ is highly firm-centric, where the firm believes that the competitive edge lies in its ability to innovate. Conventional Model Contemporary Model Competitive Model None of the above Answer: Conventional Model

Q. Which of the following is not an Exchange function of Marketing? Product Planning & Development Buying function After-sales service Selling Function Answer: After-sales service