What is globalization?

When nations economies feely move goods, labor and money

An executive summary is _____

provides an overview highlighting the critical points in the marketing plan

Strength, Weakness, Opportunity, Threat

Marketing helps create a positive cycle of economic growth by_____

persuading people to buy goods and services

The four P's of marketing include_____

product, price, promotion, and place

What are the factors of production?

land, labor, capital, and entrepreneurship

What is corporate social responsibiity?

actions a business takes to further social good

specific, measureable, achievable, realistic, time bound

An emotionally intelligent person _____

understands other people's emotions

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Marketing 1 Midterm 2021

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Questions 23

Answers

1
What is globalization?
The difference between a nation's exports and imports
countries producing goods more efficiently and at a lower cost
Trading of goods and services between two or more nations
When nations economies feely move goods, labor and money
2
Which form of economic utility is added when products are available at convenient places?
form utility
place utility
time utility
information utility
3
An executive summary is _____
is what the business aspires to accompish
details market and sales analyses that have been performed
presents an overview of the business that is outlined in the business plan
provides an overview highlighting the critical points in the marketing plan
4
The term baby boomer refers to ____
a target market
a demographic
a generational cohort
all of the above
5
SWOT stands for
Strength, Weakness, Opportunity, Timing
Strength, Weakness, Opportunity, Threat
Super, Weird, Organic, Toast
Status, Weakness, Opportunity, Threat
6
______ are internal factors that lace a company at a disadvantage relative to competitors
threats
weaknesses
economic factors
political factors
7
Marketing helps create a positive cycle of economic growth by_____
providing information to educate consumers
persuading people to buy goods and services
creating more and better products at competitive prices
identifying new business opportunities
8
What is an example of infrastructure?
money
labor
public transportation
soil
9
The four P's of marketing include_____
product, packaging, promotion, and price
product, price, promotion, and place
price, promotion, people, and products
promotion, place, packaging, and people
10
What is a product
An action that is done for another person usually for a fee
A concept, cause , issue or image
good, service, or an idea
Something a person desires, but could live without
11
The value of the option that was not selected when a choice is made is a(an) _____
productivity cost
opportunity cost
trade in
trade-off
12
Which form of business organization is a relationship between two or more people who join together to create a business
corporation
nonprofit organization
sole proprietorship
partnership
13
helps determine the needs of a company, develops and implements a plan, and creates customer satisfaction is a ____
Consumer
Retailer
Marketing professional
Customer
14
The specific group of customers whose needs and wants a company will focus on satisfying is the ________
Mass market
B2B - Business to business market
B2C - Business to consumer market
Target market
15
Why do we need marketing?
It informs the consumer
It helps the economy grow
all of the above
It fills consumer wants and needs
16
An official statement that announces the long term goals of a company
executive summary
vision statement
SMART goal
mission statement
17
What are the factors of production?
land, labor, entrepreneurship and money
land, labor, capital, and entrepreneurship
labor, capital, entrepreneurship, and natural resources
labor, human resources, capital, and natural resources
18
What is corporate social responsibiity?
advantage a business has due to its positive reputation
actions a business takes to further social good
creating conditions under which humans and nature can coexist
promoting the welfare of others through donating time, property, or money
19
Function of marketing analyzes the potential of marketplaces to create a specific target market?
pricing
marketing information management(MIM)
promotion
market planning
20
Which function of marketing handles the activities involved in getting products from producers to consumers?
product/service management
channel management
market planning
selling
21
A SMART goal is ____
None of the above
smart, measurable, attainable, realistic, time bound
specific, measureable, attainable, reasonable, trending
specific, measureable, achievable, realistic, time bound
22
An emotionally intelligent person _____
is able to show emotion
behaves irresponsibly
is smart
understands other people's emotions
23
Where can you acquire goods and services?
all of the above
in someone's garage
on line
in a store

Marketing 1 Midterm 2021 Flashcards | StudBud