Part A: Multiple Choice Questions (20 marks) Answer ALL questions (2 marks each) 1. A is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want. A) market offering B) value proposition C) brand positioning D) market segment E) market mix 2. is the act of obtaining a desired object from someone by offering something in return. A) Valuation B) Exchange C) Market offering D) Confiscation E) Donation E 3. The selling concept is typically practiced A) to balance consumers' wants, company's requirements, and the society's long-run interests B) with products that offer the most in terms of quality, performance, and innovative features C) when the company focuses on building long-term customer relationships D) with goods that buyers normally do not think of buying E) by customer-driven companies as 4. It is most accurate to say that when customers purchase products they act on they judge values and costs. A) objective value B) perceived value C) customer lifetime value D) company image E) society's interests 5. Marketers can group people in a number of ways, including by birth date. However, the following combination of groups has proven to be more effective: A) income, lifestyle, life stage B) profession, common values they seek in products they buy, lifestyle C) lifestyle, life stage, common values they seek in products they buy D) place of residence, life stage, lifestyle E) race or nationality, lifestyle, common values they seek in products they buy