What is the core concept of marketing?
Selling products
Creating value and satisfying needs
Advertising to customers
Lowering prices
Which of the following best defines a ‘need’ in marketing?
A strong desire for luxury
A want shaped by culture
A basic human requirement
A product category
What differentiates a ‘want’ from a ‘need’?
Wants are essential; needs are not
Needs are shaped by society
Wants are shaped by culture and personality
Needs require less effort
What is demand?
Desire for a product
Need plus purchasing power
Marketing strategy
A product’s price point
What is value in marketing terms?
Product cost
The ratio of price to satisfaction
Customer’s evaluation of benefit vs. cost
Customer loyalty
Exchange in marketing refers to:
Lowering prices to increase sales
The act of giving up something to receive something
Trade discounts
Customer loyalty programs
Which of the following is NOT one of the 4 Ps?
Product
Price
Positioning
Place
What is the ‘Product’ in the 4 Ps?
A physical good only
Anything that can satisfy a need or want
Only tangible items
An advertising strategy
Price refers to:
The cost to produce the product
The value customers assign to a product
The amount of money charged for a product
A customer’s willingness to pay
Which ‘P’ covers advertising, PR, and sales promotion?
Product
Price
Promotion
Placement
Which concept focuses on the needs of the buyer?
Production concept
Selling concept
Marketing concept
Product concept
The selling concept assumes:
Consumers will buy what is available
Customers will resist purchasing without persuasion
Long-term value matters most
Customer feedback drives innovation
Customer satisfaction is defined as:
A sales target
Exceeding product features
Matching product performance to expectations
The lowest price guarantee
In marketing, a market is defined as:
Any place with stores
A physical marketplace
All actual and potential buyers of a product
All sellers of a product
What is the ultimate goal of marketing?
Sell products
Create satisfied customers
Generate awareness
Increase revenue
Keep Learning
Good start—review core concepts and try again!
Marketing Master
You know your basics well. Great job!
Getting a grip on Marketing 101: Core Definitions Quiz Interview Questions sets the stage for mastering essential marketing terms. Start by exploring our marketing principles & concepts interview questions guide to revisit foundational definitions. Then test your knowledge with the product life-cycle stages interview MCQs, refine your messaging skills through the positioning statement formula interview questions, and evaluate brand value using the brand equity models interview resources. Working through these interview questions will build your confidence in marketing basics.