Business Principles - Chapter 10 Review

Product costs + operating expenses + profit =

Any form of communication used to inform, persuade, or remind is called

Not all marketing is directed at consumers.

In a communication path, the person that has information to communicate to another is called

To plan effective promotions, marketers must first

The reasons consumers decide what products and services to purchase are called buying

The most known and used type of mass promotion is

Which scenario will most likely result in comparatively low prices?

Marketing function involving determining best way for customers to locate/obtain/use a product

Services can be stored for later consumption.

Gross margin is

A company's plan that identifies how it will use marketing to achieve its goal is called a

Additions and improvements to a basic product are called

Contests, games, and product give-aways are all examples of

What are the four elements of a marketing mix?

Which marketing function involves talking directly with potential customers to determine needs?

Which is NOT generally considered one of the marketing functions?

Final business organization in an indirect channel of distribution for consumer products:

Which of the following is function of promotion?

The first step in the consumer decision-making process is to