Marketing I - Benchmark I

In a Market Economy, who decides what goods and services should be produced and sold?

Income that remains after paying taxes is called

The function dealing with providing customers with the goods and services they need and want?

76 Million babies were born during this time period

The process of classifying customers by needs and wants.

The difference between wants and needs and available resources is known as what?

Which is Not and example of Time Utility?

This group is children of dual-career households or divorced parents.

Which of the following is Not 1 of the 4 Factors of Production?

Advertising on television and radio is a form of ____________________.

Why do Socialist countries pay the highest taxes?

Which generation is prime target market for luxury and recreational products?

What is a consumer?

Canada and Sweden are both examples of countries with what type of economic philosophy?

Segmenting the market based on the benefits desired by consumers & shopping patterns

Tangible items that have monetary value and can satisfy your needs and wants are known as:

Improving on an existing product falls under which function of marketing?

Why is the U.S. population becoming more and more diverse?

All are ways that pricing decisions are determined by, except which of the following?

This involves having a product where customers can buy it.

This group is the most racially and ethnically diverse.

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

Marketing is the process of __ ideas, goods & services that satisfies customer’s needs & wants.

What are the 4 P's of the Marketing Mix?

You have $700 to spend. Each T-shirt costs $7. Thus, you can make 100 t-shirts. Unit cost is?