Introduction Marketing Exam 1

Question 1

What era of marketing history believed that a good product will sell itself?

Accepted Answer

Production Era

Question 2

Entering a contract with famous athletes to endorse your product to hopefully increase sales.

Accepted Answer

Promotion

Question 3

The difference between a good and a service is that services are ____________.

Accepted Answer

Intangible

Question 4

Using a celebrity in a Coca-Cola commercial is an example of what type of marketing?

Accepted Answer

Person Marketing

Question 5

What does the O in SWOT stand for?

Accepted Answer

Opportunities

Question 6

What is a marketing concept?

Accepted Answer

The idea that you must satisfy a customers needs and wants

Question 7

________ is marketing to a very small and specific group of consumers.

Accepted Answer

Niche Marketing

Question 8

What is the target market for the following product?

Accepted Answer

Football fans

Question 9

What are the 4 P's that make up the marketing mix?

Accepted Answer

Promotion, Place, Product, Price

Question 10

Developing new items to sell with different features, styles, models, colors, etc.

Accepted Answer

Product

Question 11

What is the ideal target market for this product?

Accepted Answer

Teenagers who have acne

Question 12

Overing a two year warranty on a product.

Accepted Answer

Product

Question 13

Any uncontrollable factor that affects marketing is called a/an

Accepted Answer

External Factor

Question 14

A vending machine outside of a gas station is an example of which type of utility?

Accepted Answer

Place

Question 15

If Starbucks launches a new line of healthy juice, what is their target market?

Accepted Answer

Customers who visit cafes and are non-caffeine drinkers

Question 16

Developing a new ad campaign to increase awareness of your product.

Accepted Answer

Promotion

Question 17

Putting together a pizza pie is an example of what type of utility?

Accepted Answer

Form

Question 18

________ is the failure to recognize the scope of your business.

Accepted Answer

Marketing Myopia

Question 19

Market segmentation is...?

Accepted Answer

Grouping a market by certain characteristics

Question 20

Using various ways to adjust what you charge for a product.

Accepted Answer

Pricing

Questions 20