Marketing EOC Review 2016 - Part I

Question 1

Marketing mix element that refers to the location and methods used to make products available.

Accepted Answer

Place

Question 2

Dividing consumers into markets based on where they live.

Accepted Answer

Geographic Segmentation

Question 3

A series of courses and activities that prepare students for careers in Marketing, Mgmt. etc.

Accepted Answer

Marketing Education Program

Question 4

All the people who work in the economy.

Accepted Answer

All of the above

Question 5

Focusing on satisfying customers' needs and wants in order to make a profit.

Accepted Answer

Marketing Concept

Question 6

Groups of customers with very similar needs to whom the company can sell its products.

Accepted Answer

Target Markets

Question 7

The value of $$, or its equivalent, placed on a good or service; the actual $$ customers pay.

Accepted Answer

Price

Question 8

The way a nation makes economic choices about how the nation will use its resources.

Accepted Answer

Economy

Question 9

The total value of goods and services produced within a country during the year.

Accepted Answer

Gross Domestic Product

Question 10

An unfilled desire is known as needs.

Accepted Answer

False

Question 11

People who share similar needs and wants and are capable of buying products is called...

Accepted Answer

Market

Question 12

The difference between what consumers want and need and what the available resources are.

Accepted Answer

Scarcity

Question 13

The resources available to develop products and services is called factors of production.

Accepted Answer

True

Question 14

Taxes placed on imported products to increase the price for which they are sold.

Accepted Answer

Tariffs

Question 15

The difference between the amount of a country's imports and exports.

Accepted Answer

Balance of trade

Question 16

The percentage of the work force that is unemployed at any given date.

Accepted Answer

Unemployment Rate

Question 17

When demand exceeds supply.

Accepted Answer

Shortage

Question 18

A period of prolonged recession.

Accepted Answer

Both of the above

Question 19

People's interests and values.

Accepted Answer

Psychographics

Question 20

Having concern about the consequences of actions on others is...

Accepted Answer

Social Responsibility

Question 21

The amount of goods producers are willing to make and sell.

Accepted Answer

Supply

Question 22

An economic system where resources are owned by the govn't and the govn't answers economic ?'s

Accepted Answer

Both Command and Controlled Economy

Question 23

Amount of income left after paying taxes, available for saving and spending.

Accepted Answer

Disposable Income

Question 24

Speaking out to the media or public on malpractice, misconduct, corruption, or mismanagement

Accepted Answer

Whistleblowing

Question 25

The reasons that people buy.

Accepted Answer

Buying Motives

Question 26

When prices increase faster than the value of the goods and services.

Accepted Answer

Inflation

Question 27

Limits on the #'s of specific types of products that foreign companies can sell in the country.

Accepted Answer

Quotas

Question 28

The change in the cost of a specified set of goods and services over time.

Accepted Answer

Consumer Price Index

Question 29

Any form of communication used to inform, persuade, or remind customers.

Accepted Answer

Promotion

Question 30

The amount of income left after paying basic living expenses and taxes.

Accepted Answer

Discretionary Income

Question 31

Recurring changes in an economy.

Accepted Answer

Business Cycles

Question 32

Rivalry among businesses on the basis of price and value.

Accepted Answer

Price Competition

Question 33

Money needed to start and operate a business.

Accepted Answer

Capital

Question 34

What is Social Intelligence?

Accepted Answer

Knowing how to conduct oneself in a variety of situations.

Question 35

The type of market in which there is only one supplier offering a unique product.

Accepted Answer

Monopoly

Question 36

Learning about the requirements for succeeding in various careers is...

Accepted Answer

Vocational Understanding

Question 37

The forces of love, affection, guilt, fear, or passion that compel consumers to buy.

Accepted Answer

Emotional Motives

Question 38

Moral principles based on honesty and fairness that guide the behavior individuals and groups

Accepted Answer

Ethics

Question 39

What is the activity of providing opportunities for the development of leadership abilities?

Accepted Answer

Leadership Development

Question 40

An economic system where resources are owned by individuals&the marketplace answers economic ?s

Accepted Answer

Capitalism

Question 41

The consumer willingness and ability to buy products.

Accepted Answer

Demand

Question 42

An organized effort to influence a company by refusing to purchase its products.

Accepted Answer

Boycott

Question 43

Creating and maintaining satisfying exchange relationships and consists of the four P's.

Accepted Answer

Marketing

Question 44

The ability to work well with others.

Accepted Answer

Teamwork

Question 45

Encompasses the notion of individuals and firms striving for a greater share of a market.

Accepted Answer

Competition

Question 46

Market situation in which a price decrease will decrease revenue.

Accepted Answer

Inelastic Demand

Question 47

A govn't prohibition against the shipment of certain products to a particular country.

Accepted Answer

Embargo

Question 48

Marketing activities designed to satisfy customer needs w/o negatively impacting environment

Accepted Answer

Green Marketing

Question 49

The reasons to buy based on facts or logic.

Accepted Answer

Rational Motives

Question 50

A period of economic slowdown.

Accepted Answer

Recession

Question 51

Directs a company's marketing mix at a large and heterogeneous group of consumers.

Accepted Answer

Mass Marketing

Question 52

Exists when the amount of product supplied is equal to the amount of product demanded.

Accepted Answer

Equilibrium

Question 53

Also called factors of production, are all the things used in producing goods and services.

Accepted Answer

Resources

Question 54

Offered to a market to satisfy needs and wants, including tangible goods or intangible services

Accepted Answer

Product

Question 55

The average output by workers for a specific period of time.

Accepted Answer

Productivity

Question 56

Federal agency responsible for overseeing the safety of consumer products.

Accepted Answer

Consumer Product Safety Commission

Question 57

Time when the economy flourishes.

Accepted Answer

Both

Question 58

Organized actions of consumers seeking to influence business practices.

Accepted Answer

Consumerism

Question 59

Occurs when supply exceeds demand.

Accepted Answer

Surplus

Question 60

The skills of people who are willing to risk their time and money to run a business.

Accepted Answer

Entrepreneurship

Question 61

A set of standards or rules that guide ethical behavior.

Accepted Answer

Code of Ethics

Question 62

Land/natural are the natural resources of a nation.

Accepted Answer

True

Question 63

A way of analyzing a market by specific characteristics in order to create a target market.

Accepted Answer

Market Segmentation

Question 64

The descriptive characteristics of a market such as age, gender, race, income, and edu. level.

Accepted Answer

Demographics

Marketing EOC Review 2016 - Part I

Questions 73

Marketing EOC Review 2016 - Part I

Questions 73