Ch 1 Marketing Test

financing – industrial – pricing – product
Obtaining the money needed to start and operate a business is a marketing function known as ____________________.
financing
financing – industrial – pricing – product
After conducting market research, Whole Breads Inc. decides to introduce a new low carb muffin to increase their sales. What basic marketing strategy applies? ____________________
product
Obtaining, developing, or improving a product
product/service management
Deciding how much to charge for goods and services
pricing
The added value of a product in economic terms
utility
Providing customers with goods and services they want
selling
Planning, promoting, and distributing products
marketing
Tangible items
goods
Percentage of total sales generated by competing companies
market share
Deciding how goods get into customers hands
distribution
Businesses that buy products for use in their operations
industrial market
Product, price, place, promotion
marketing mix
At the end of her one-week stay at a luxury hotel, Jennifer completed a form rating the hotel’s service, food, and accommodations. This is an example of what marketing tool?
market research
The owner of a miniature golf business provides her customers with?
service
financing – industrial – pricing – product
Shopping at Target and paying cash for your purchases is a function of
pricing
“Buy one get one free.” This is an example of distribution. (True or False)
False
In business, a marketing concept will list information such as ethnic background, age, income level and geographic location. (True or False)
False
After watching Saturday morning cartoons, Bobby asked his mom to buy him Honey Nut Cheerios. According to the text Bobby is considered…
a consumer
financing – industrial – pricing – product
Birthday Bears Inc. has just received an order for 1000 units from Unique Gifts. This is an example of a(n)____________________market
industrial
People who share similar needs and wants and who can purchase your products are called a market. (True or False)
True
According to the text, the place is the means of getting the product into the consumer’s hands. (True or False)
True
The purpose of communicating with customers is to
attract customers’ interest
Marketing encourages people from different countries to __________ frequently.
trade
Marketing is described as creating…
exchanges
Which of the following activities is an aspect of marketing a service:
Determining how much to charge for a haircut
Overall, what does marketing allow us to do?
Live our daily lives
According to the marketing concept, which option demonstrates customer orientation?
Finding out what a buyer wants
According to the marketing concept, keeping company goals in mind means to
maintain the firm’s purpose
Of the following, which is a durable good
Coffee mug
How do marketers get their messages to customers?
By communicating with them
In an overall sense, where does marketing occur?
Wherever customers are
Determining how to coordinate all of the marketing activities
Planning how to carry out the marketing process
Conducting research to identify products that would satisfy customers
Finding out about customers
Taking a product for a “test drive”
Offering the products customers want
Identifying a price that buyers and sellers both like
Determining how much to charge for the products
Sponsoring a charity event
Communicating with customers
Determining where customers are likely to purchase a certain product
Putting products where they need to be
What provides the basis for all marketing goals and actions?
Planning
Which of the following is a marketing activity
Communicating with customers
For both the customer and the seller, striking the right pricing balance makes the exchange
beneficial
Which of the following is the most common reason for businesses to search for ways to make their products better and cheaper
Competition
Without marketing, producers and customers would be
disconnected from each other
According to the marketing concept, which option shows company commitment?
Setting aside funds to research what customers want
In the marketing concept, whose point of view matters most?
Buyer’s
Which of the following is a method used to communicate with customers:
Personal selling
Marketing links producers to
customers
A philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying customer wants and needs while achieving company goals
Marketing Concept
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Marketing
Any paid form of nonpersonal presentation of ideas, goods, or services
Advertising
The general conditions in which people live; quality of life
Standard of Living
Promotional activities other than advertising, personal selling, and publicity that stimulate customer purchases
Sales Promotion
Intangible activities that are performed by other people for money; productive acts that satisfy economic wants
Services
Any nonpersonal presentation of ideas, goods, or services that is not paid for by the company or individual that benefits from or is harmed by it
Publicity
The form of promotion that determines client needs and wants and responds through planned, personalized communication that influences purchase decisions and enhances future business opportunities
Personal Selling
Tangible objects and materials
Goods
Marketing element referring to what goods, services, or ideas a business will offer its customers
Product