JSS 1 Business Studies Flashcards: Meaning, Importance, Functions and Scope of Marketing

Question 1

A business identifies customer needs, creates value and exchanges an offer. How is marketing best described?

Accepted Answer

identifying and satisfying customer needs profitably

Question 2

Food and shelter are basic requirements rather than optional desires. How is a need defined?

Accepted Answer

a basic requirement

Question 3

A pupil desires a fashionable second pair of shoes. How is such a want described?

Accepted Answer

a preferred way of satisfying a need

Question 4

A customer both wants a bag and can pay for it. How is demand defined?

Accepted Answer

a want backed by willingness and ability to buy

Question 5

Buyers and sellers are able to exchange value. How is this market described?

Accepted Answer

buyers and sellers able to exchange value

Question 6

A good or service is offered to satisfy customers. How is a product defined?

Accepted Answer

anything offered to satisfy a need or want

Question 7

Who is a consumer?

Accepted Answer

the final user of a product

Question 8

Who is a customer?

Accepted Answer

a person or organisation that buys

Question 9

How does market research help a business?

Accepted Answer

it reveals customer needs and preferences

Question 10

A firm decides a product's features, quality, brand and package. What does product planning involve?

Accepted Answer

deciding product features and benefits

Question 11

A new soap exists, but buyers do not know it. The marketing function needed is ____.

Accepted Answer

promotion

Question 12

Moving products to locations where customers can buy them is the ____ function.

Accepted Answer

distribution

Question 13

The marketing function that determines the amount charged is ____.

Accepted Answer

pricing

Question 14

Why is marketing important to production?

Accepted Answer

it guides what and how much to produce

Question 15

How does marketing benefit consumers?

Accepted Answer

it improves information, choice and access

Question 16

A shop helps buyers before, during and after a sale. How is customer service described?

Accepted Answer

support given before, during and after purchase

Question 17

Why should marketers collect customer feedback?

Accepted Answer

to improve products and service

Question 18

Bisi buys detergent for use at home rather than for resale. She is the ____.

Accepted Answer

consumer

Question 19

A retailer purchases cartons from a wholesaler and is therefore the wholesaler's ____.

Accepted Answer

customer

Question 20

From identifying needs to after-sales support, what broad range does marketing cover?

Accepted Answer

activities from identifying needs to after-sales service

Strong work.