Chapter 1 Marketing Review

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

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

By persuading people to buy goods and services, marketing

Finding sources for products, making sure deliveries are on time, managing transport of goods...all included in

A light fixture manufacturer turns various metal and electronic parts into modern light fixtures. This is an example of

A auto dealer decides to offer its own credit terms at very low interest rates to customers who can prove they're local.

In addition to selling products, marketing involves selling your own ________ and abilities.

Which option below identifies the correct relationship between advertising and marketing?

The amount of money a company requests in exchange for a product is the product's price.

Personal selling, advertising, sales promotion, and public relations are all part of a

Which of the following is NOT a benefit of marketing?

In marketing, the activities involved in getting a product or service to the customer is known as promotion.

Which of the following is NOT commonly found in the definition for marketing?

A type of product that is physical and can be touched is a(n) ______

Communicating with potential customers in an effort to influence their behavior

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

Customers can also be known as _________ when they buy products for their own use.

Another name for market research is

Something that is necessary for survivial

The three elements of marketing concept are total company approach, profit, and customer satisfaction.

A company targets children ages 6-10 by advertising on YouTube. This is the company's utility market.

Action that is done for someone

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

Good, service, or idea

Something a person desires but can live without

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

Which of these is an example of selling?

A company that requires departments to work together to ensure customer satisfaction is taking a total company approach.

In broad terms, a place is anywhere a buyer and seller gather to buy and sell goods.

This person helps determine the marketing needs of a company, develops and implements marketing plans, etc.

Which of the following statements about marketing is NOT true

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

Concept, cause, issue, image, or philosophy

A marketing concept is an approach to business that focuses on satisfying customer needs and wants while making a profit

Which of the following is an example of a good?

The type of utility added when customers are told where to buy a product is place utility.

The four Ps of marketing include

A product's utility is the characteristic it has that satisfy peoples' wants and needs.

Determining which products a business should offer to meet customer needs

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

Another name for B2C market is consumer market.