Marketing Basics Review

Question 1

The choice of products and services in today's market are limited

Accepted Answer

False

Question 2

A _______is the specific group of customers whose needs a company will focus on satisfying.

Accepted Answer

target market

Question 3

What are the seven functions of marketing? (Double answer).

Accepted Answer

Channel Management, Market Planning, Promotion and Selling, Pricing, Information Management, Product Service Management

Question 4

The different routes products take from the producers to the customers is called?

Accepted Answer

Channel

Question 5

Market Mix is the strategy for using the 4 P's elements

Accepted Answer

True

Question 6

Market Planning is creating an actionable marketing plan designed to achieve business goals.

Accepted Answer

True

Question 7

_____is the activities that promote goodwill between the company and the public.

Accepted Answer

Public Relations

Question 8

The process of communicating with potential customers to influence their buying behavior.

Accepted Answer

Promotion

Question 9

Items that persuade a customer to make a purchase, such as rewards, discounts, free products

Accepted Answer

Purchase incentives

Question 10

Research has shown that it is less costly to keep a current customer that to find a new one.

Accepted Answer

True

Question 11

The amount of money requested or exchanged for a product.

Accepted Answer

Price

Question 12

Marketing information management is also called________________

Accepted Answer

Market Research

Question 13

Which of the following is not a decision made as part of product/service management function.

Accepted Answer

Advertising

Question 14

Profit is the money left before all expenses and costs of running the business are paid.

Accepted Answer

False

Question 15

The needs and wants of customers_____.

Accepted Answer

are constantly changing

Question 16

In marketing, place is also known as ______.

Accepted Answer

Distribution

Question 17

What are the four elements of marketing mix?

Accepted Answer

Product, Price, Place, Promotion

Question 18

A _______is the specific group of customers whose needs a company will focus on satisfying.

Accepted Answer

target market

Question 19

Marketing is based on the relationship between the buyer and _________.

Accepted Answer

seller

Question 20

The different routes products take from the producers to the customers is called?

Accepted Answer

Channel

Questions 20