I. TRUE OR FALSE. Write TRUE if the statement is correct and write FALSE if the statement is incorrect.1. Marketing is a form of communicating or promoting the value of a product, service or brand to consumers.2. One goal of marketing is to understand the market and its consumers, and satisfy their changing needs andwants.3. Capturing customer value is not necessary in marketing.4. Marketing Increases brand engagement.In marketing process the situation is analyzed to identify opportunities, the strategy is formulated for a valueproposition, technical decisions are taken, plan is implemented, and results are monitored.6. Marketing activities are planned by management, and their executions are monitored through managerialfunctions.7. The qualifying determinants of consumers in purchasing a product are called wants.8. Marketing is the process by which companies create value for customers and build strong relationship tocapture value from customers in return.9. Marketing is an integral part of the business process.10. The company creates and develops a product or service based on the customer's needs, wants andexpectations.11. To identify the needs of the consumers and the market, the company and competitors should examine andconnect with them.12. A business focus on how they will improve the features of the product, this has something to do withproduction concept.13. Modern version of societal marketing concept is the marketing concept.14. Contemporary approaches focus on how products are being made and sold.15. In marketing concept, firm gathers data and make a solution to cater the needs and wants of their customers.16. To persuade the customer who opts to buy a product, the business must consider an aggressive promotionaland selling strategies.17. Marketing concept focuses on the internal potentials of the company and not based on the desires and needsof the market.18. Goals of Marketing are specific metrics which are used to track performance to make sure the firm is ontrack to meet specific objectives.19. Marketing is an organizational function for creating, communicating, and delivering value to customers andfor managing customer relationships in ways that benefit the customers. 20. Sales concept refers to the idea that people will buy more goods and services through personal selling andadvertising done aggressively to push them in the market.21. Relationship concept/marketing an approach that centers on maintaining and improving value-added long-term relationships with current customers, distributors, dealers and suppliers.22. Traditional concept marketing is a marketing strategy a company uses to determine if it can produce a non-viable product consumer want or need, whether the company can produce enough products to fill the need,and the marketing method by which the need can be filled.23. The economy has a direct impact on the way marketers push their products to consumers. Understandingthe link between the economy and marketing can help business owners allocate their marketing resourcesand respond to changes in the economic climate.24. Economists use a concept called the law of diminishing returns to explain how resources can be allocatedto maximize return on investment. Over time, you may find that the cost of marketing or advertising acertain product meets or exceeds the amountcan happen when a competitor enters the field, when consumer tastes change or when your price point is toolow or too high.25. Part of responding to changes in the economy dealing with your competitors, unless you're very lucky,your business inevitably will have to deal with competitors offering similar products at similar or evenlower prices. Customers may be tempted to buy from the competitor if you don't respond to these economicchanges. To keep competitive, you have to increase your marketing exposure and even rethink your targetmarket.money you are generating from selling that product. ThisII. For items 26-33. Tactical vs. Contemporary Concepts of Marketinga.Production Conceptb. Product Concepte. Relationship Marketing Conceptc. Selling Conceptd. Marketing Conceptf. Societal Marketing Concept26. It considers the needs of both the customer and the product offered.27. It emphasizes aggressive selling and promotional efforts.28. It assumes that customers prefer products that are inexpensive, affordable and widely available.29. It includes considerations that protect the customers' well-being and interest, as well as the interest of theenvironment and society.30. It believes that all marketing activities are for the purpose of establishing, maintaining, and strengtheningmeaningful long-term relationships with customers.31. It assumes that customers will always prefer and patronize products of high quality.32. This concept refers to the idea that people will buy more goods and services through personal.33. It views that organizations must satisfy the needs of consumers in a manner that gives for society's benefit.III. MULTIPLE CHOICE. Write the letter of your answer before each item.34. Customer-oriented and coordinated marketing aims to achieve its profit, objectives and goals. Thesegoals and objectives hinge on the increase in sales volume and customer's patronage.a. Maximize the Consumption of GoodsGoods or Serviceb. Maximize Consumer Satisfactionc. Maximize Choice ofd. Maximize Production35. The process must conform to standards in terms of product quality.b. Sales Process36. Higher-level human needs appeal more to the emotions. These are the social needs for recognition and thedevelopment of higher social satisfaction which is limitless.d. Social needsa. Marketing Processc. Production Processd. Marketing Processa. Needsb. Drivesc. Wants

Question

Accepted Answer

Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…