Marketing Basics - Chapter 2

Question 1

Items that help persuade a customer to make a purchase, such as free products, are called what?

Accepted Answer

purchase incentives

Question 2

The three elements of the marketing concept are customer satisfaction, profit, and __________.

Accepted Answer

total company approach

Question 3

A ___ is a specific group of customers whose needs a company will focus on satisfying.

Accepted Answer

target market

Question 4

A customer is an individual or group who buys products.

Accepted Answer

True

Question 5

The different routes products take from the producers to the customers.

Accepted Answer

channel

Question 6

An approach to business that focuses on satisfying customers while achieving profit goals.

Accepted Answer

marketing concept

Question 7

Public relations is paid promotion.

Accepted Answer

False

Question 8

In marketing, place is also known as ____.

Accepted Answer

distribution

Question 9

An action that is done for you, usually for a fee.

Accepted Answer

service

Question 10

The four functions of business are marketing, finance, product, and management.

Accepted Answer

False

Question 11

Process of communicating with potential customers; effort to influence their buying behavior

Accepted Answer

promotion

Question 12

There is one target market for all businesses.

Accepted Answer

False

Question 13

The amount of money requested or exchanged for a product.

Accepted Answer

price

Question 14

Creating an actionable marketing plan designed to achieve business goals is called ____.

Accepted Answer

market planning

Question 15

Selling activities never take place outside of a store.

Accepted Answer

False

Question 16

Which of the following is not a decision made as part of the product/service mgmt function?

Accepted Answer

advertising

Question 17

The marketing mix is all of the decisions made about product, price, place, and promotion.

Accepted Answer

True

Question 18

A concept, cause, issue, image, or philosophy that can be marketed.

Accepted Answer

idea

Question 19

Refers to the activities involved in getting a product to the end users; known as distribution

Accepted Answer

place

Question 20

Ideas are products.

Accepted Answer

True

Question 21

Anything that can be bought or sold.

Accepted Answer

product

Question 22

The degree to which customers are pleased with a company's goods or services.

Accepted Answer

customer satisfaction

Question 23

A physical item that can be touched.

Accepted Answer

good

Question 24

There are ____ functions of marketing.

Accepted Answer

7

Question 25

Marketing is ______, which means it is constantly changing.

Accepted Answer

dynamic

Question 26

The MIM function handles activities involved in getting the products through the channels.

Accepted Answer

False

Question 27

Involves handling activities involved in getting products through the different channels.

Accepted Answer

channel management

Question 28

The money that a business has left after all expenses & costs of running the business are paid

Accepted Answer

profit

Question 29

Decisions about each piece of the marketing mix _____ each other.

Accepted Answer

affect

Question 30

Involves gathering & analyzing information about markets, customers, competitors, etc.

Accepted Answer

marketing-information management

Marketing Basics - Chapter 2

Questions 30

Marketing Basics - Chapter 2

Questions 30