Explain the difference between needs and wants. When companies that sell designer sneakers develop their marketing strategy, do they concentrate on satisfying their customers$$ needs or wants? What about a utility company, such as the local power company?

Multiple Choice $(1$ point each$)$

$1.$ The publisher of the well$-$known Winnie$-$the$-$Pooh series wants to celebrate the $100$th anniversary of the series, initiating a $$200,000$ campaign. This initiative represents the $\_\_\_\_\_\_\_\_$ component in the four Ps

A$)$ product

B$)$ place

C$)$ price

D$)$ promotion

E$)$ presentation

$2.$ If a radio station holds an online contest in which you must log in to its website and submit personal details such as name, phone number, and e$-$mail in order to participate, the radio station is

A$)$ offering an exchange.

B$)$ behaving unethically.

C$)$ hoping to receive feedback.

D$)$ implementing a CRM program.

E$)$ overstepping its role.

$3.$ Which of the following is true of marketing?

A$)$ Marketing affects various stakeholders.

B$)$ Marketing plays no role in creating value.

C$)$ Marketing is about satisfying the company$$s needs and wants.

D$)$ Marketing requires place, product, promotion, and perception decisions.

E$)$ Marketing is performed by organizations, not individuals.

$4.$ Jeffrey is going to sell sporting apparel, which he has already purchased from manufacturers, and has signed a deal agreeing to the volume he will sell monthly. He has researched his competition, talked to some customers, and decided on prices he will charge. Jeffrey has also developed a plan for promoting his business. Based on this description, which element of the marketing mix does Jeffrey still need to work on$?$

A$)$ planning

B$)$ product

C$)$ price

D$)$ promotion

E$)$ place

$5.$ How a product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the consumer are all elements of

A$)$ production management.

B$)$ a marketing exchange.

C$)$ supply chain logistics$.$

D$)$ a marketing plan.

E$)$ delivery of the value proposition.

$6.$ Which of the following is a core aspect of marketing?

A$)$ satisfying as many needs as possible

B$)$ creating a product that everyone will want to buy

C$)$ setting prices lower than all competitors

D$)$ making product, place, promotion, and price decisions

E$)$ increasing the company$$s profit

$7.$ When Starbucks sells its coffee and mugs to the public on its website, it is a $\_\_\_\_\_\_\_\_$ sale.

A$)$ B$2$B

B$)$ B$2$C

C$)$ C$2$C

D$)$ C$2$B

E$)$ C$2$F