Marketing Post Assessment

A combination of 4 strategies used to market a product.

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

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

Which of the following is not directly related to marketing?

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

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

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

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

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

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

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

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

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

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

Resource scarcity forces nations to make economic choices.

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

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

When supply exceeds demand there is a shortage.

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

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

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

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

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

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

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

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

Business risk is the potential for loss or failure.

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

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

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

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

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

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

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

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

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

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

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

SEC regulates the sale of stocks and bonds.

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

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

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

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

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

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

All things used in producing goods and services is

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

What is the function of a licensing agreement?

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

FDA is responsible for investigating deceptive business practices.

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

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

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

In business, ethics are guidelines for good behavior.

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

Sales and rebates are examples of what market strategy?

What is the purpose of the Federal Reserve Board?

A period of renewed economic growth is

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

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

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

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

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

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

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

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

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

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

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

The law of supply is

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

FTC monitors our economy and controls our monetary supply.

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

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

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