Chapter 1 Marketing Dynamics

Question 1

A clock manufacturer turns plastic, metal, and various electronics into grandfather clocks. This is an example of ______

Accepted Answer

form utility

Question 2

Good, service, or idea

Accepted Answer

product

Question 3

Something a person desires but can live without.

Accepted Answer

want

Question 4

Which of these is an example of selling?

Accepted Answer

providing customer service

Question 5

Gathering and analyzing information about markets, customers, industry trends, new technology, and competing businesses

Accepted Answer

marketing-information management

Question 6

Which sentence identifies the correct relationship between advertising and marketing?

Accepted Answer

advertising is one aspect of marketing

Question 7

Product sourcing, transporting, delivering are all part of what function of marketing?

Accepted Answer

channel management

Question 8

Handling the activities involved in getting products from the producers to the customers

Accepted Answer

channel management

Question 9

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

Accepted Answer

how to inform people about the product and where to buyit

Question 10

Communicating with potential customers in an effort to influence their behavior

Accepted Answer

promotion

Question 11

Which of the following statements about marketing is not true?

Accepted Answer

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

Question 12

Which of the following is an example of a good?

Accepted Answer

athletic shoes

Question 13

A store decides to offer its own credit terms at very low interest rates to customers. This is and example of__________

Accepted Answer

possession utility

Question 14

Analyzing the potential of different marketplaces in order to create strategies to target a specific market

Accepted Answer

market planning

Question 15

By persuading people to buy goods and services, marketing__________________

Accepted Answer

creates a positive cycle of economic growth

Question 16

Action that is done for someone

Accepted Answer

service

Question 17

The plan for using product, price, place and promotion to market a specific product or group of products is its ________

Accepted Answer

Marketing mix

Question 18

The process of identifying existing or potential customers as B2C or B2B customers is ______________________

Accepted Answer

Market Identification

Question 19

Determining which products a business should offer to meet customer needs

Accepted Answer

product/service management

Question 20

Concept, cause, issue, image, or philosophy

Accepted Answer

idea

Question 21

Which of the following is not a benefit of marketing?

Accepted Answer

increasing people's needs

Question 22

Something that is necessary for survival

Accepted Answer

need

Question 23

A company's profit is the _____________ during a specific time period

Accepted Answer

difference between income earned and expenses incurred

Question 24

The four p's of marketing include____________________

Accepted Answer

product, price, place, and promotion

Question 25

Another name for marketing research is___________

Accepted Answer

marketing information management

Chapter 1 Marketing Dynamics

Questions 25

Chapter 1 Marketing Dynamics

Questions 25