Unit 2: Marketing Concepts Introduction Test Review

What type of utility? Swimsuits sold in Florida.

Branding is important in product planning because it assures customers of consistent product quality.

What type of utility? Accepting credit cards.

A new product is introduced into the marketplace during this phase of the product life cycle.

The marketing concept states that businesses must satisfy customer's need and wants in order to make a profit.

This is the period of the product life cycle when sales of a product increase more slowly. 

A short, memorable phrase such as Nike's "Just Do It" 

What type of utility? Nutrition info on food label.

What is utility?

marketing function involved in getting money that is necessary to pay for the operation of the business