Chapter 1 Test Review - Marketing is All Around Us

A dairy introducing low-fat ice cream to increase sales is using a _____ marketing strategy.

Employees at a home-improvement warehouse giving customers advice about how to use their products

Time utility involves having a product available at a certain time of year or day.

Selling exercise equipment through catalogs mailed to exercise enthusiasts is an example of place utility.

Which of the core marketing functions includes conducting research?

Product/Service Management is the gathering, sorting, and analyzing information about customers.

A company sending emails or using posts on social media to notify customers of new promotions or connect with them.

The scope of marketing only includes the marketing of goods and services.

A company should develop a(n) ____in order to target potential customers who value products made sustainably?

The "buy one get one free" strategy is an example of distribution.

Product, price, place, and promotion are all part of the product mix.

Providing customers with goods and services that they want is called selling.

Birthday Bears, Inc. is part of a(n) ____ market when it buys 1,000 bears from Unique Gifts to sell in its stores.

What does a miniature golf business provide to its customers?

Marketing includes planning, promoting, and distributing products.

Businesses that buy products for use in their operations are part of the consumer market.

Physically moving the goods in order to get them to the customer is part of the channel management function.

Which of the following utilities involves making products?

Which of the following is the process of classifying customers by specific characteristics?

Marketing activities increase demand, which helps lower prices.

Completing a research form/survey after leaving a hotel is is an example of what marketing core function?

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

A market includes people who share similar needs and wants, and can purchase a company’s products.

Banks now open seven days a week, or offering extended hours for customers is an example of possession utility.

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

The recycle symbol is a trustmark that is awarded by the government.

Services are tangible items that are done for you for a fee.

The added value of a product in economic terms is "usefulness".

Market share is the percentage of total sales generated by competing companies.

A marketing concept includes information such as ethnic background, age, income level, and geographic location.

To increase the_____ utility of their products, some retailers offer installment or layaway plans.

Deciding how much to charge for goods and services is pricing.

Jared asked his mom to buy him Coco Puffs after watching a TV commercial. To what group does he belong?

Organizational selling is another name for business-to-business selling.

Which of the following is NOT one of the 4 Ps of the marketing mix?

Market shares constantly change as competitors enter the market & market size increases or decreases.

Consumers who purchase goods and services for their personal use are considered part of which market?

Marketing is the process of developing, promoting, and distributing products to satisfy customer needs and wants.

Promotion is used to do all but which of the following?

Pricing decisions are based on cost and on what competitors are charging for the same product or service.

Towards the end of summer, local office supplies store increase their stock of school supplies to increase _____utility.

Obtaining, developing, or improving a product are part of which marketing core function?

Shopping at Target and paying cash for your purchases is a marketing strategy called _______.

When a products demand and production increase, prices usually decrease.