Marketing Concepts Review

Question 1

The item or service offered for sale.

Accepted Answer

Product

Question 2

Marketers decide the price of a product based on its real value.

Accepted Answer

False

Question 3

Determining activities, goals, objectives, and procedures to carry out strategies to attract target customers

Accepted Answer

Market Planning

Question 4

Obtains, develops, maintains, and improves a product/service mix

Accepted Answer

Product/Service Management

Question 5

Determining clients' wants and needs

Accepted Answer

Selling

Question 6

Promotion is made up of advertising, public relations, and other media strategies.

Accepted Answer

True

Question 7

Which is NOT a type of market segmentation?

Accepted Answer

Sociographic

Question 8

The goal is to communicate to consumers that they need this product and that it is priced appropriately

Accepted Answer

Promotion

Question 9

What a consumer believes a product is worth.

Accepted Answer

Perceived Value

Question 10

Where the product should be available, i.e. in brick-and-mortar stores and online, and how it will be displayed

Accepted Answer

Place

Question 11

The process of using marketing strategies to generate interest for an upcoming entertainment event

Accepted Answer

Entertainment Marketing

Question 12

The cost to produce and sell a product for a profit.

Accepted Answer

Real/Actual Value

Question 13

Pierre is the CUTEST CAT IN THE WORLD!

Accepted Answer

True

Question 14

The goal of marketing is to attract the target customer to the business.

Accepted Answer

True

Question 15

The amount that consumers are willing to pay for a product.

Accepted Answer

Price

Question 16

Grouping prospective buyers into segments with common needs and common behaviors.

Accepted Answer

Market Segmentation

Question 17

Which of the following is not part of the marketing mix?

Accepted Answer

Population

Question 18

Gathers, accesses, synthesizes, evaluates, and disseminates information

Accepted Answer

Marketing Information Management

Question 19

Marketing is the action of promoting and selling products or services, including market research & advertising.

Accepted Answer

True

Question 20

A marketing strategy that is aimed at promoting sporting events, equipment or products & services using an athlete/team

Accepted Answer

Sports Marketing

Questions 20