Marketing Post Assessment

Understanding ethnic backgrounds and household income is part of market segmentation.

The four basic marketing decisions are price, place, possession, and promotion.

Transforming glass bottles into beautiful new sculptures is an example of information utility.

The FTC assists businesses in establishing trade relations with other countries.

All things used in producing goods and services is

The OSHA is a governmental regulatory agency created to protect employers.

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

Business risk is the potential for loss or failure.

Jen filled out a form rating the hotel's service, food, & accommodations. What marketing tool?

Although Ben and Jerry's gives part of its income to charity,the company is a for-profit Bus.

For a Catering Co., ovens, the food & money used to start the bus. are examples of capital

Informing persuading, or reminding potential customers about a product or service is called

A country's infrastructure includes its sewers, highways, and phone lines.

A period of renewed economic growth is

Which U.S. ethnic population is declining, relative to other ethnic populations?

People who share similar needs and wants and who can purchase your products are called a market

Selling camping gear through catalogs mailed to outdoors people is an example of place utility.

"Buy one get one free." This is an example of distribution.

The price of a gallon of gas continues to rise due to oil ___ in the mid-East.

A BBQ Sauce Co. markets a new sauce with spices found in Asian food. What type of segmentation?

Marketing concepts list information like race, age, income level & geographic location.

Providing information for their products is an example of non-price competition.

What is the function of a licensing agreement?

Which of the following purchases would most likely be made with disposable income?

Social responsibility & ethics are important topics due to corporate scandals &unethical behav.

Supply & demand: businesses lower product prices when supply of the product exceeds its demand.

Birthday Bears Inc. received an order for 1,000units.This is an example of an industrial market

What is the organized way a nation provides for the needs and wants of its people?

Setting a min. wage that Bus. must pay their workers is an Ex. of Govt's role as a regulator.

How would you desc. a company that voluntarily commits some of its income to helping its city?

Resource scarcity forces nations to make economic choices.

A co. wants to send info to music teachers, dancers, etc. What type of data would be helpful?

In the United States, the most rapidly increasing ethnic population is African-Americans.

Germany has a socialist economy; thus the Germans pay much less in taxes then Americans pay.

The Red Cross and the Boy Scouts of America are considered non-profit organizations.

Sales and rebates are examples of what market strategy?

In business, ethics are guidelines for good behavior.

Stores that provide seminars to teachers &charge 5% more than others is using price competition

In Nov., a store stocks its shelves with canned pumpkin in order to increase the ___ utility.

In economic terms, land, labor, and capital refers to...

Because they prevent competition, monopolies are prohibited in a free enterprise system.

When supply exceeds demand there is a shortage.

In command economys,individual consumers decide the items that best satisfy their wants & needs

Which economic utility increased when fast food restaurants began accepting credit cards?

A combination of 4 strategies used to market a product.

According to the text, the place is the means of getting the product into the consumer's hands.

Geographic,demographic & psychographic data can be used to create a customer profile.

As a factor of production, the term labor refers to both skilled and unskilled workers.

In a market economy, who decides whether a business will survive or fail?

In a market economy, who decides how products are produced?

Home Depot workers are experts who give customers advice about do-it-yourself projects.Utility?

After watching cartoons, Bob asked his mom to buy him Honey Nut Cheerios. Bobby is considered..

In its role as regulator, the Gov. makes laws that protect consumers, workers, and businesses.

FDA is responsible for investigating deceptive business practices.

What is the purpose of the Federal Reserve Board?

When demand and production for a product increases, prices usually decrease.

Price gouging is pricing products unreasonably high after a natural disaster.

Overseer? Chems at a manufacturing plant were improperly stored &caused employees to become ill

Which government agency limited the use of chlorine as a pesticide to trained professionals?

Without competition nothing can stop a company from acting without regard for the customer.

Info about the values and attitudes that shape consumers' lifestyles are called demographics.

Which economy would best describe that of the U.S.?

What is the group that decides whether or not a business will survive?

SEC regulates the sale of stocks and bonds.

In 1970, what agency was established to protect human health & monitor air and water pollution?

The law of supply is

Market segmentation is separating large groups into smaller groups based on characteristics.

FTC monitors our economy and controls our monetary supply.

A company sells its coffee mugs in local espresso shops. What type of marketing decision is it?

Marketing: is the process of planning, pricing, promoting, ___, & ___ ideas, goods & services

The US & Japan are classified as socialist economies and have a democratic form of government.

Stores offer customers installment or layaway plans in order to increase the ___ utility.

What is the term for the struggle between companies for customers?

In communist economy, government decides the type of education children will receive.

Which of the following is not directly related to marketing?