Marketing Ch 1-2

Question 1

If you complete a form rating a hotel's service, food, etc. - what would this be an example of?

Accepted Answer

Market research

Question 2

Deciding how much to charge for goods and services

Accepted Answer

Pricing

Question 3

Understanding ethnic backgrounds and household income is a part of market segmentation.

Accepted Answer

True

Question 4

What is a company using by offering BBQ sauce that included spices found in Asian cuisine?

Accepted Answer

Demographics

Question 5

Place is the means necessary in getting the product in the consumer's hand.

Accepted Answer

False

Question 6

Separating large groups of people into smaller groups based on characteristics

Accepted Answer

Market segmentation

Question 7

Information about where people live

Accepted Answer

Geographics

Question 8

Businesses can use database technology to provide products to a specified target market

Accepted Answer

True

Question 9

People who share similar needs and wants are called a market

Accepted Answer

True

Question 10

If a music company sends catalogs to music teachers, dancers, etc - they are using what?

Accepted Answer

Psychographics

Question 11

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

Accepted Answer

Possession utility

Question 12

A combination of four strategies used to market a product

Accepted Answer

Marketing mix

Question 13

Selling items through catalogs mailed to club members is an example of place utility

Accepted Answer

True

Question 14

The marketing concept lists information such as ethnic background, age, and income level

Accepted Answer

False

Question 15

Money left after taking out taxes - used for necessities

Accepted Answer

Disposable income

Question 16

The added value of a product in economic terms

Accepted Answer

Utility

Question 17

Characteristics such as age, gender, ethnic background, income

Accepted Answer

Demographics

Question 18

% of total sales generated by competing companies

Accepted Answer

Market share

Question 19

Having a time frame will help indicate if an objective has been met

Accepted Answer

True

Question 20

The owner of a miniature golf business provides her customers with.....

Accepted Answer

a service

Question 21

Gets information about products mainly from the Internet

Accepted Answer

Generation Y

Question 22

Which of the following utilities is not directly related to marketing?

Accepted Answer

Form utility

Question 23

Planning, promoting, and distributing goods

Accepted Answer

Marketing

Question 24

Analysis of outside influences on an organization

Accepted Answer

Environmental scan

Question 25

According to the text - which US ethnic population is declining relative to other populations?

Accepted Answer

Caucasian

Question 26

A marketing plan is a formal written document that directs activities for a period of time

Accepted Answer

True

Question 27

Brief overview of the marketing plan

Accepted Answer

Executive summary

Question 28

Product, price, place, promotion

Accepted Answer

Marketing mix

Question 29

Providing customers with goods and services they want

Accepted Answer

Selling

Question 30

Bobby asked him Mom to buy Honey Nut Cheerios. According to the text, what is Bobby?

Accepted Answer

Consumer

Question 31

Tangible items

Accepted Answer

Goods

Question 32

Obtaining, developing, or improving a product

Accepted Answer

Product/service management

Question 33

Putting a marketing plan into action and managing it

Accepted Answer

Implementation

Question 34

Buy one-get one free is an example of distribution

Accepted Answer

False

Question 35

Selling coffee mugs in coffee shops is what type of marketing decision?

Accepted Answer

Place

Question 36

Which of these would be purchased using discretionary income?

Accepted Answer

Magazines

Question 37

Deciding how to get products into customers hands

Accepted Answer

Channel management

Question 38

businesses that buy products for use in their business operations

Accepted Answer

Industrial market

Marketing Ch 1-2

Questions 38

Marketing Ch 1-2

Questions 38