What is Marketing? Unit Test Review

This utility involves changing raw materials or putting parts together to make them more useful...

Which of the following has the highest "consumability"?

The "added value" in economic terms is called:

Which of the following marketing utilities is created primarily by means of production?

Which economic utility increased when websites began taking credit/debit for online purchases?

According to the "What is Marketing" article we read in class, which is NOT a key process of marketing?

Store shelves being stocked in August for Halloween is an example of:

This function deals with getting products or services to customers in the best way possible

Phone surveys and questionnaire would fall within this function:

Dine In, Carry Out, Delivery, and frozen are all ways to get a pizza. These are examples of:

Which of the following is NOT an economic benefit of marketing?

What are "loss leaders" designed to do?

A retail store must strike a compromise between two main factors when setting price:

What is a "price point"?

A business-to-business market that includes all businesses that buy products for use in their operations

Store displays, instructions, warranties, and advertisements are an example of this utility.

Which of the following is NOT one of the P's of the marketing mix.

In which situation are the consumer & the customer the same person?

In a retail business, what number do you get by subtracting an item's cost from its price?

The group that is identified for a specific marketing program.

What is a focus group?

Pampered Chef, Rodan+Fields, Stella & Dot, Girl Scouts and Mary Kay are examples of this function

Which of the following is an example of possession utility?

This utility is created primarily through transporation and distribution

The owner of a miniature golf business provides her customers with...

What is meant by "promotional mix"?

This utility is created primarily by means of production.

What is meant by a "trade area"?

This is the ONLY marketing function that generates revenue for a company

What is market share?

Packaging, labeling, directions, and instructions are all examples of this utility.

Convenient shopping hours are part of this utility

This function of marketing ensures that products and services get to customers in the best way possible.

The idea that a business should strive to satisfy customers' wants and needs while generating a profit for the company.

What is a complementary business?

The exchange of a product for money = ________ utility

This marketing function is dependent on marketing research to improve a product or a product mix.

Which of the following is NOT one of the four foundations of marketing?

Which of the following is NOT true about prices?

What is institutional promotion?