221. Many countries have ________ industries to create greater competition and growth opportunities.
A. open-market
B. deregulated
C. regulated
D. scientifically segmented

222. Customers are showing greater price sensitivity in their search for ___________.
A. The right product
B. The right service
C. The right store
D. Value

223. Rising promotion costs and shrinking profit margins are the result of ___________.
A. Changing technology
B. Globalization
C. Deregulation
D. Heightened competition

224. _____ is the father of Modern Marketing.
A. Abraham Maslow
B. Lester Wunderman
C. Peter Drucker
D. Philip Kotler

225. _______is not a part of marketing mix.
A. Product
B. Purpose
C. Place
D. Price

226. Select an appropriate definition of “Want”.
A. More consumer Needs
B. Needs backed by buying power
C. Needs directed to the product
D. Basic human requirements

227. ______ are the form of human needs take as shaped by culture & individual personality.
A. Wants
B. Demands
C. Needs
D. Social Needs

228. In the history of marketing, when did the production period end?
A. In the late 1800s.
B. In the early 1900s.
C. In the 1920s.
D. After the end of the Second World War.

229. Good marketing is no accident but a result of careful planning and _____.
A. Promotion
B. Selling
C. Policies
D. Execution

230. ______is the best illustration of a subculture.
A. Occupation
B. Income
C. Religion
D. Family & Friends