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Marketing Dynamics Ch. 1 Intro to Marketing Flashcards | StudBud
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Marketing Dynamics Ch. 1 Intro to Marketing
Marketing Dynamics Ch. 1 Intro to Marketing
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Answers
1
The four p's of marketing include____________________
personal, product, place, and price
price, profession, product, and place
profit, product, promotion, and place
product, price, place, and promotion
2
Which sentence identifies the correct relationship between advertising and marketing?
advertising and marketing are the same
Marketing is one aspect of advertising
advertising is one aspect of marketing
advertising and marketing are entirely different concepts
3
Which of the following statements about marketing is not true?
Marketing involves building a relationship between buyers and sellers
Long term relationships result in customers who are loyal to the business
Maintaining relationship's with customers is a good business practice
It is more costly to keep a current customer than to attract a new one
4
By persuading people to buy goods and services, marketing__________________
reduces competition for the goods and services
increases the prices of products sold
creates a positive cycle of economic growth
decreases the numer of goods and services available
5
The process of identifying existing or potential customers as B2C or B2B customers is ______________________
Product Management
Market Targeting
Market Identification
Channel Management
6
Which of the following is not a benefit of marketing?
stimulating competition
educating consumers
increasing people's needs
improving the economy
7
Action that is done for someone
need
product
idea
service
8
Which of the following decisions is included in promoting a product?
determining whether to offer a good, service, or idea
determining where to locate manufacturing plants and stores
planning the shipping and warehousing of the product
how to inform people about the product and where to buy it
9
Something a person desires but can live without.
need
want
idea
product
10
Gathering and analyzing information about markets, customers, industry trends, new technology, and competing businesses
product /service management
marketing-information management
promotion
channel management
11
A company's profit is the _____________ during a specific time period
total income earned by sales
amount of money the company charges for each product
difference between income earned and expenses incurred
total number of sales, including returns
12
Which of the following is an example of a good?
tax preparation
manicure
athletic shoes
lawn care
13
Handling the activities involved in getting products from the producers to the customers
promotion
product/service management
market planning
channel management
14
A store decides to offer its own credit terms at very low interest rates to customers. This is an example of__________
possession utility
place utility
form utility
information utility
15
Another name for marketing research is___________
channel management
product/service mangement
market planning
marketing information management
16
Product sourcing, transporting, delivering are all part of what function of marketing?
product/service management
market planning
channel management
marketing information marketing
17
Determining which products a business should offer to meet customer needs
promotion
product/service management
channel management
market planning
18
Good, service, or idea
product
idea
want
need
19
A clock manufacturer turns plastic, metal, and various electronics into grandfather clocks. This is an example of ______
form utility
place utility
information utility
time utility
20
Concept, cause, issue, image, or philosophy
need
idea
product
want
21
Something that is necessary for survival
product
want
idea
need
22
The plan for using product, price, place and promotion to market a specific product or group of products is its ________
Marketing information managment
marketing concept
Marketing mix
Promotional mix
23
Analyzing the potential of different marketplaces in order to create strategies to target a specific market
marketing information management
market planning
channel management
product/service managment
24
Which of these is an example of selling?
determining the price of a product
deciding which products to offer
advertising a new product
providing customer service
25
Communicating with potential customers in an effort to influence their behavior
market planning
promotion
product/service management
channel management
