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\Economic Utility Flashcards | StudBud
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\Economic Utility
\Economic Utility
10 terms
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StudBud Administration
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Marketing Essentials Terms from chapter 1.1, 1.2
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
This is changing materials into usable goods or putting parts together to make them more useful
form utility
time utility
possession utility
place utility
2
The exchange of a product for money
form utility
possession utility
place utility
information utility
3
Which was not mentioned as part of customer relationship management?
customer service
marketing communications
close-out sales
customer information
4
Businesses should strive to satisfy customers' needs and wants while generating a profit is...
competition
economic utilities
economic benefits
marketing concept
5
Communication with the customer is what type of utility?
information
place
possession
form
6
Having a product where customers can buy it
possession utility
form utility
time utility
place utility
7
Which is not one of the three offerings in the scope of marketing?
goods
research
services
ideas
8
Having a product or service available at a certain time of year or convenient time of day
place utility
form utility
Time utility
information utility
9
The scope of marketing includes many processes to create exchanges and satisfy customers.
True
False
10
Which of the following is not an economic benefit of marketing?
New and Improved products
dissatisfied customers
lower prices
economic utility
