Marketing Concepts

Question 1

After eating at a restaurant you complete a form rating the food & service. What marketing tool

Accepted Answer

market research

Question 2

Obtaining, developing, or improving a product

Accepted Answer

product/service management

Question 3

Selling camping gear through catalogs mailed to outdoor groups is an example of place utiltity

Accepted Answer

True

Question 4

The place is the means of getting the product into customers hands (per the text)

Accepted Answer

True

Question 5

Percentage of total sales generated by competing companies

Accepted Answer

Market share

Question 6

Business that buy products for use in their operations

Accepted Answer

Industrial Market

Question 7

In business, a marketing concept will list info such as age, income level, geographic location

Accepted Answer

True

Question 8

Deciding how much to charge for a goods and services

Accepted Answer

Pricing

Question 9

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

Accepted Answer

Form Utility

Question 10

Buy one get one free is an example of distribution

Accepted Answer

True

Question 11

People who share similar needs & wants and can purchase your products are called a market

Accepted Answer

True

Question 12

Tangible items

Accepted Answer

Goods

Question 13

Providing customers with goods and services they want

Accepted Answer

Selling

Question 14

A person who owns a miniature golf business provides their customers with

Accepted Answer

service

Question 15

Watching tv, you see a commercial for Lucky Charms, you ask mom to buy some, you are the ______

Accepted Answer

consumer

Question 16

The added value of a product in economic terms

Accepted Answer

Utility

Question 17

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

Accepted Answer

possession utility

Question 18

Product, price, place, promotion

Accepted Answer

Marketing Mix

Question 19

Deciding on how goods get into the customers hands

Accepted Answer

distribution

Question 20

Planning, promoting, and distributing products

Accepted Answer

Marketing

Questions 20