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Marketing chapters 1-3 Flashcards | StudBud
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Marketing chapters 1-3
Marketing chapters 1-3
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Review of chapters 1-3
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
Capitalism, Communism, and Socialism are types of economic systems.
False
True
2
A competitor's successful marketing campaign of a product would be considered ...
a weakness
a threat
a strength
an opportunity
3
Examing consumer's attitudes and opinions would be a look into ...
geographics
behavioral characteristics
psychographics
demographics
4
Mass Marketing typically is more costly than Niche Marketing because you need to research your specific target audience.
True
False
5
Functions of marketing add value to a product. The added value is called Utility. Which is NOT an economic utility?
Form Utility
Possession Utility
Marketing Utility
Place Utility
6
Breaking down the market into smaller groups that have a similar characteristic is called ...
Consumer Market
Organizational Market
Market Segmentation
Target Market
7
Which is NOT a section of a Marketing Plan?
Marketing Strategies
Demographics
Objectives
Situation Analysis
8
Which is NOT an economic factor that a marketer would consider an opportunity or threat?
do not call registry
import pricing
trade restictions
currency rates
9
If you wanted to work in the student store for class credit in the future, you would forecast for the class called ...
Advanced Business Procedures
Marketing III
Student Store
there is no class for credit
10
Which of the following is NOT an economic system?
Basic economy
Market economy
Command economy
Traditional economy
11
The 80/20 rule states that 80% of a your customers only use 20% of your products
True
False
12
Which of the following is NOT a Factor of Production?
Entrepreneurship
Labor
Scarcity
Capital
13
The idea that a business should strive to satisfy customer's needs and wants while making a profit is called ...
Marketing Concept
Competition
Brand Loyalty
Customer Relationship Management
14
All of the following are goals of a healthy economy EXCEPT ...
Increase Productivity
Decrease Unemployment
Maintain Stable Prices
Increase Taxes
15
Nationalization occurs when the government takes over a privately-held company.
True
False
16
The four key phases of a Business Cycle are Expansion, Recession, Trough, and ...
Consumer Price Index
Inflation
Gross Domestic Product
Recovery
17
The 4 Ps of Marketing refers to ...
Market Segmentation
Marketing Mix
Target Marget
Marketing Plan
18
When businesses study consumer shopping habits to determine the most convenient and efficient locations to sell ...
Information utility
Time utility
Possession utility
Place utility
19
A company's percentage of total sales volume generated by all companies that compete in a given market is called ...
Consumer Market
Organizational Market
Market Share
Shared Markets
20
Nations must answer these basic economic questions EXCEPT ...
What g/s should be produced
How g/s should be produced
For whom g/s should be produced
When g/s should be produced
21
Which is NOT a payment option at your student store?
Apple Pay
Cash App
Debit/Credit card
Cash
22
Marketing generates competition. The public benefits from this competition in the form of lower prices and ...
New and improved products
A higher score
Private ownership
Monopolies
23
An internal company analysis examines ...
socio-cutural and technology
politics and economics
strengths and weaknesses
opportunites and threats
24
Raw materials that have been processed into a more useful form (such as lumber or steel) are considered ...
Capital
Land
Labor
Entreprenuership
25
Goods are intangilbe and Services are tangible
False
True
