Marketing Chapter 1: Marketing is All Around US

Question 1

What is another name for distribution?

Accepted Answer

Channel management

Question 2

The process of planning, pricing, promoting, selling, and distributing to satisfy customers

Accepted Answer

Marketing

Question 3

Creating and selling products, goods, and services to individual buyers.

Accepted Answer

Consumer Marketing

Question 4

Which is NOT an example of place utility?

Accepted Answer

Chicken noodle soup

Question 5

Which is not part of the marketing mix?

Accepted Answer

Time

Question 6

To satisfy the needs and wants of your customer while making a profit.

Accepted Answer

Marketing Concept

Question 7

An address, website, phone number, and transportation of products are examples of...

Accepted Answer

Channel management

Question 8

Service management is one of the functions of marketing

Accepted Answer

True

Question 9

The exchange of a product for money

Accepted Answer

Possession

Question 10

What is an example of time utility?

Accepted Answer

Gas station staying open for 24 hours

Question 11

Designed to support marketing decisions. Talks about customers, trends, data (Ex. Survey)

Accepted Answer

Marketing Information Management

Question 12

A target market is a group of people who are most likely going to

Accepted Answer

Become customers

Question 13

The process of gathering funds for your product/business. The planning piece for your business.

Accepted Answer

Financing (Market Planning)

Question 14

To inform, persuade, or remind potential customers about a product or service.

Accepted Answer

Promotion

Question 15

There are 6 functions of marketing

Accepted Answer

False

Question 16

Organizational function that deals with products at all stages of the product lifecycle

Accepted Answer

Product/service management

Question 17

What are the 5 types of utilities?

Accepted Answer

Form, place, time, possession, information

Question 18

What is the main purpose of the selling process?

Accepted Answer

To consider the consumer wants and needs

Question 19

The process of making a product or service available for consumers or businesses.

Accepted Answer

Distribution (Channel Management)

Question 20

The portion of a market controlled by a particular company or product

Accepted Answer

Market Share

Question 21

Which is an example of a tangible good?

Accepted Answer

Honey mustard

Question 22

Merchandise or possessions that cost money and satisfy needs and wants (Tangible)

Accepted Answer

Goods

Question 23

The added value to a product

Accepted Answer

Utilities

Question 24

Service offered by a business to satisfy needs and wants (Intangible)

Accepted Answer

Services

Question 25

What does good marketing require?

Accepted Answer

Collecting and analyzing data

Question 26

What is most often the main goal of a retail business to which you are selling your product?

Accepted Answer

Satisfying customers

Question 27

The process of setting a price for products and services. Based on competition, expenses, cost.

Accepted Answer

Pricing

Question 28

What are the 4 factors of the marketing mix?

Accepted Answer

Product, place, price, promotion

Question 29

What is an example of form utility?

Accepted Answer

Creating custom shoes to fit a customer

Question 30

Market planning involves budgeting, how you accept payments and make purchases

Accepted Answer

True

Marketing Chapter 1: Marketing is All Around US

Questions 30

Marketing Chapter 1: Marketing is All Around US

Questions 30