Marketing Midterm

Convenience goods are the least frequently bought and consumed goods.

The marketing plan defines everything that a business must do to reach their customers.

When someone creates a corporation, they are responsible for all of the business’s debts and liabilities.

What are the four ideas that marketing can be broken down into?

A business makes a profit only when it has more total liabilities than total assets.

What specific agency is responsible for creating marketing trade regulations?

What term best refers to organizations that represent the interests of workers?

What category of businesses make profits by buying goods at a low cost and selling them at a premium price?

What is a possible penalty in most of the US if a multi-level marketing business gets caught asking members to pay a fee

This term mean everything that a business owns: cash, building equipment, office furniture, and other owned property

When the supply of a product is greater than the demand, how is the price of the product or product impacted?

Keith is looking for a new tennis racket and has been comparing different models. What type of good is this?

Unit 2: Marketing is used to find out what their customers want and to make their products or services more appealing.

While businesses have methods for influencing governments, governments are not able to influence businesses in any way.

Unit 3: No matter which markets they serve, all private enterprises have one goal—to maximize what?

The final step of the marketing process is to analyze all of the internal and external factors impacting the business.

When businesses look at leading economic indicators, they are trying to predict what will happen over the following...

A business that runs an ads with false claims runs a risk of not only losing trust with their customers but also getting

What deals with how the economy at large functions by looking at things such as inflation, price level, national income?

What two types of cost are generally associated with doing business?

The way that a retailer presents and positions their products on the shelves is known as what?

In free market economies, businesses cannot influence the decisions of governments.

What term best describes the individual decisions people make in an economy?

Food trucks and hot dog vendors are examples of urban street sellers.

Scarcity is the reason why some people don’t have enough food to eat or a decent place to live.

bakery wants to use psychographic segmentation to improve the their marketing campaign. Which should they target?

What function of marketing revolves around updating, changing and catering products to the needs and wants of customers?

Products with high demand and low supply benefit from what kind of pricing?

A telltale sign that a company is a sole proprietorship is if it has the same name as.

What term best describes the attitudes, intentions, preferences, tastes, and decisions of consumers in the market?