Marketing Principles Chapter 1

Question 1

This marketing function provides security for products, personnel and customers.

Accepted Answer

risk management

Question 2

An approach to customer service that gives employees the authority to solve customer problems:

Accepted Answer

employee empowerment

Question 3

In the past, businesses expected customers to take responsibility for marketing activities.

Accepted Answer

True

Question 4

Exchanging products or services with others by agreeing on their values is known as

Accepted Answer

bartering

Question 5

Which of the following businesses has marketing as its primary activity?

Accepted Answer

a freight company

Question 6

The four "Ps" of marketing are product, price, place and planning.

Accepted Answer

False

Question 7

Businesses that do not use the marketing concepts are more concerned about producing products

Accepted Answer

True

Question 8

A location where people bring products to be conveniently exchanged is a

Accepted Answer

central market

Question 9

The first step of the marketing concept is to

Accepted Answer

identify customers' needs

Question 10

One of the primary efforts of the marketing department era was to reduce advertising.

Accepted Answer

False

Question 11

Which business function involves development, implementing and evaluating plans of a business?

Accepted Answer

management

Question 12

Specialization of labor resulted in less of a given product being produced to exchange.

Accepted Answer

False

Question 13

When you buy an ice cream cone or digital camera, you are involved in marketing.

Accepted Answer

True

Question 14

How many companies in the US use marketing as their primary business activity?

Accepted Answer

more than 4 million

Question 15

Marketing activities and jobs have not changed much over the past 100 years.

Accepted Answer

False

Question 16

An emphasis on producing and distributing new products was characteristic of the

Accepted Answer

production era

Question 17

The primary reason for a business to exist is to provide employment for people.

Accepted Answer

False

Question 18

Each of the marketing functions occurs every time a product or service is developed and sold

Accepted Answer

True

Question 19

_______ marketing focuses on developing loyal customers.

Accepted Answer

relationship

Question 20

____ is the creation and maintenance of satisfying exchange relationships.

Accepted Answer

Marketing

Questions 20