MRKTG- Ch1

Question 1

1) Market is defined as the people who share similar needs/wants and who have the ability to purchase a given product.

Accepted Answer

True

Question 2

The ____ consists of the four main elements of marketing

Accepted Answer

marketing mix

Question 3

Function of understanding concepts and strategies to develop and target marketing strategies to a specific market

Accepted Answer

Market Planning

Question 4

When was Diet Coke invented?

Accepted Answer

1982

Question 5

1) This takes place every time something is sold in the marketplace?

Accepted Answer

Exchange

Question 6

The function that includes communication with potential customers to inform, persuade, or remind them about products?

Accepted Answer

Promotion

Question 7

Marketing promotes the following

Accepted Answer

All the above

Question 8

What is the term used for making new or improved products, that add value?

Accepted Answer

Innovation

Question 9

1) Target Market is the company’s percentage of total sales volume generated by all competition in a given market.

Accepted Answer

False

Question 10

What are the componets of the Marketing Mix?

Accepted Answer

Product, Place, Price, Promotion

Question 11

Businesses usually want to _________ their market share

Accepted Answer

Increase

Question 12

What are the componets of the Marketing Mix?

Accepted Answer

Product, Place, Price, Promotion

Question 13

What should you NOT say to your junior high teachers?

Accepted Answer

All of these.

Question 14

Marketing occurs when people decide to satisfy their:

Accepted Answer

needs and wants through exchange

Question 15

1Product Service Management includes obtaining, developing, maintaining, and improving a product or a product mix.

Accepted Answer

True

Question 16

1) Businesses that buy products to use in their operations: also called a ____________________ market.

Accepted Answer

Industrial

Question 17

__________________ utilities is the offering a product at a convenient time of day or year for

Accepted Answer

Time

Question 18

1) Consumers are the purchasers of a good or service.

Accepted Answer

False

Question 19

1) The purchaser of a good or service?

Accepted Answer

Customer

Question 20

What college did Tom Brady go to?

Accepted Answer

University of Michigan

Question 21

Function of getting goods to customers

Accepted Answer

Channel Management

Question 22

What is solid, but can also send a message?

Accepted Answer

Post

Question 23

1) The group identified as most likely to buy a specific product?

Accepted Answer

Target Market

Question 24

1) Service are intangible items that have monetary value and satisfy customers' wants/needs.

Accepted Answer

True

Question 25

Function of researching customers, trends, and competitors

Accepted Answer

Marketing information management

Question 26

1) ________________ utility is putting parts together to make a product that consumers want.

Accepted Answer

Form

Question 27

Which QB has the most rushing yards in a Super Bowl?

Accepted Answer

Steve McNair

Question 28

What is Market Share?

Accepted Answer

The percent of a market a company holds.

MRKTG- Ch1

Questions 28

MRKTG- Ch1

Questions 28