A company’s profit is the ____ during a specific time period.

difference between income earned and expenses incurred

Which sentence identifies the correct relationship between advertising and marketing?

Advertising is one aspect of marketing.

Which of the following decisions is included in promoting a product?

how to inform people about the product and where to buy it

Another name for marketing research is ____.

marketing-information management

Which of the following statements about marketing is not true?

It is more costly to keep a current customer than to attract a new one.

By persuading people to buy goods and services, marketing ____.

creates a positive cycle of economic growth

The four Ps of marketing include ____.

product, price, place, and promotion

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Marketing Dynamics Chapter 1 Review

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Questions 14

Answers

1
A company’s profit is the ____ during a specific time period.
difference between income earned and expenses incurred
total income earned by sales
amount of money the company charges for each product
total number of sales, including returns
2
Which sentence identifies the correct relationship between advertising and marketing?
Advertising and marketing are the same.
Advertising and marketing are entirely different concepts.
Advertising is one aspect of marketing.
Marketing is one aspect of advertising.
3
Which of the following decisions is included in promoting a product?
planning the shipping and warehousing of the product
determining where to locate manufacturing plants and stores
how to inform people about the product and where to buy it
determining whether to offer a good, service, or idea
4
The plan for using product, price, place, and promotion to market a specific product or group of products is its ____.
marketing mix
promotional mix
marketing concept
marketing-information management
5
Another name for marketing research is ____.
product/service management
marketing-information management
market planning
channel management
6
A clock manufacturer turns plastic, metal, and various electronics into grandfather clocks. This is an example of ____.
form utility
place utility
time utility
information utility
7
The process of identifying existing or potential customers as B2C or B2B customers is ____.
Channel Management
Markey Identification
Market Targeting
Product Management
8
Which of the following is an example of a good?
lawn care
athletic shoes
manicure
tax preparation
9
Which of the following is not a benefit of marketing?
increasing people’s needs
improving the economy
stimulating competition
educating consumers
10
Which of these is an example of selling?
deciding which products to offer
advertising a new product
determining the price of a product
providing customer service
11
Which of the following statements about marketing is not true?
Maintaining relationships with customers is a good business practice.
Long-term relationships result in customers who are loyal to the business.
Marketing involves building a relationship between buyers and sellers.
It is more costly to keep a current customer than to attract a new one.
12
By persuading people to buy goods and services, marketing ____.
increases the prices of products sold
creates a positive cycle of economic growth
decreases the number of goods and services available
reduces competition for the goods and services
13
The four Ps of marketing include ____.
product, price, place, and promotion
profit, product, promotion, and place
personal, product, place, and price
price, profession, product, and place
14
A department store offer its own credit terms to local residents at low interest rates. This is an example of?
form utility
information utility
possession utility
place utility

Marketing Dynamics Chapter 1 Review Flashcards | StudBud