Marketing Unit 1

Question 1

The functions of marketing may or may not add value to a product.

Accepted Answer

False

Question 2

The scanning of outside influences, like political, economic, socio-cultural on an organization

Accepted Answer

PEST Analysis

Question 3

Marketers who produce & distribute products that are necessities are interested in

Accepted Answer

disposable income

Question 4

Market shares change all the time as new competitors enter the market.

Accepted Answer

True

Question 5

Tangible items that have monetary value and satisfy your needs and wants.

Accepted Answer

goods

Question 6

Intangible items that have monetary value and satisfy your needs and wants.

Accepted Answer

services

Question 7

In marketing attributes of goods & servicesthat make them capable ofsatisfying consumers' wants

Accepted Answer

utilities

Question 8

Term used to make customers aware of products & encourage them to but their product

Accepted Answer

promotion

Question 9

Includes all businesses that buy products to use in their operations-includes the B-to-B market

Accepted Answer

organizational market

Question 10

Term that involves grouping people with similar attitudes, interests, and opinions.

Accepted Answer

psychographics

Question 11

Percentage of the total sales volume generated by all companies that compete in a given market

Accepted Answer

market share

Question 12

The marketing mix includes four basic marketing strategies, called the four Ps

Accepted Answer

product, place, price, and promotion

Question 13

The 4 elements of the marketing mix are strategized to appeal to the target market - people

Accepted Answer

True

Question 14

Statistics that describe a population by personal characteristics like age, income, & education

Accepted Answer

demographics

Question 15

Congress reviews the definition of marketing to be sure it conforms to marketing principles.

Accepted Answer

False

Question 16

Number of times an advertisement is associated with an athlete, team, or entertainer

Accepted Answer

gross impression

Question 17

Market shares change all the time as the size of the market increases or decreases.

Accepted Answer

True

Question 18

Mass marketing involves using a single marketing strategy to reach all customers

Accepted Answer

True

Question 19

Marketing is a process.

Accepted Answer

True

Question 20

Marketers track trends and consumer attitudes.

Accepted Answer

True

Question 21

Consists of consumers who purchase goods and services for personal use.

Accepted Answer

consumer market

Question 22

The process of classifying people who form a given market into even smaller groups

Accepted Answer

market segmentation

Question 23

Entertainment involves some type of performance only viewed in person.

Accepted Answer

False

Question 24

Process of planning,promoting,selling,&distributing ideas,goods,orservices to satisfy customers

Accepted Answer

marketing

Question 25

Assessment that lists & analyzes the company's strengths, weaknesses, opportunities & threats

Accepted Answer

SWOT Analysis

Question 26

Idea that a business strives to satisfy customers' needs and wants while generating a profit.

Accepted Answer

marketing concept

Question 27

A list about the target market, like age, income level, marital status, behavior and gender

Accepted Answer

customer profile

Question 28

Term that involves the locations and methods used to make products available

Accepted Answer

distribution

Question 29

Ratings are the number of viewers a program attracts.

Accepted Answer

True

Question 30

Companies must always look for opportunities to create advantage due to external factors

Accepted Answer

true

Question 31

The group that is identified for a specific marketing program

Accepted Answer

target market

Question 32

The projection of probable, future sales in units or dollars

Accepted Answer

sales forecast

Question 33

Term that refers to segmentation of the market based on where people live

Accepted Answer

geographic

Marketing Unit 1

Questions 33

Marketing Unit 1

Questions 33