41. A place where goods are bought and sold against the price consideration between the buyers and the sellers is called ______
A. Exchange
B. Market
C. E-commerce
D. Transaction

42.Today, marketing must be understood in a new sense that can be characterized as _________
A. “Get there first with the most.”
B. “Management of youth demand.”
C. “Satisfying customer needs.”
D. “Telling and selling.”

43. The best Definition of Marketing given by Philip Kotler is _______
A. Marketing is the process by which companies create value for customers & build strong customer relationships in order to capture value from customers in return.
B. Marketing is a societal process by which individuals & groups obtain what they need & want through creating offering & freely exchanging products & services of value with others.
C. Marketing is the activity, set of institutions & processes for creating, communicating, delivering & exchanging offerings that have value for customers, clients, partners & society at large.
D. None of the above

44._______ is the act of obtaining a desired object from someone by offering something in return.
A. Marketing Myopia
B. Selling
C. Exchange
D. Delivery

45.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.

46._______ is not a type of Marketing Concept.
A.The production concept
B. The selling concept
C. The societal marketing concept
D. The Supplier Concept

47. Marketing is both an “art” and a “science” there is a constant tension between the formulated side of marketing and the ________ side.
A. behaviour
B. creative
C. management
D. selling

48. Which of the following refers to marketing channel?
A. Integrated Marketing Communication
B. Distribution
C. Marketing Myopia
D. Retailing

49._______ is a combination of quality, service & price.
A. Marketing Triad
B. Customer Value Triad
C. Customer Satisfaction Triad
D. Service Quality Triad

50.________ Involves purchase from various sources & assembled at one place – involves creation & maintenance of the stock of goods purchased & _______ Involves transfer of ownership of the goods

A. Selling & Buying
B. Assembling & Selling
C. Buying & Assembling
D. Assembling & Buying