Intro To Business Ch13

Question 1

When a company focuses its mkting strategies on the ppl most likely to buy a product, they are:

Accepted Answer

target marketing

Question 2

Some people consider this to be the 5th P of the marketing mix?

Accepted Answer

People

Question 3

The point at which total revenue, or sales, is equal to total costs providing a product is the:

Accepted Answer

Break-Even Point

Question 4

A group of customers who share common wants and needs are called a/an:

Accepted Answer

Market

Question 5

Which of the following is not a channel of distribution?

Accepted Answer

relationship marketing

Question 6

Which of the following is not one of the 3 price questions marketers must answer?

Accepted Answer

Where will the customers be able to pay for the product?

Question 7

Which of the 7 functions of Marketing deals with deciding how much to charge for a product?

Accepted Answer

Pricing

Question 8

The goal of test-marketing a product is to:

Accepted Answer

collect customer responses

Question 9

A prototype is:

Accepted Answer

all of the above

Question 10

The four basic marketing strategies (4 P's) are known as the:

Accepted Answer

Marketing Mix

Question 11

Which of the 4 P's deals with how and where customers will buy their products and services?

Accepted Answer

Place

Question 12

The process of creating, promoting, and presenting a product to meet the wants of customers is:

Accepted Answer

Marketing

Question 13

The pathway to direct products to consumers is called the:

Accepted Answer

Channel of Distribution

Question 14

Facts about the population is referred to as:

Accepted Answer

Demographics

Question 15

Gathering and analyzing information on the size, location, and makeup of a market is called:

Accepted Answer

Market Research

Question 16

Which of the 4 P's deals with finding out if there is a demand for a product?

Accepted Answer

Product

Question 17

Which of the following is not one of the 7 functions of marketing?

Accepted Answer

Staffing

Question 18

Which of the 7 functions of marketing deals with gathering & analyzing info about customers?

Accepted Answer

Information management

Questions 18