Gen Bus chapter 11

Marketing is
A systematic approach to satisfying needs
When you give $4 to a cashier and receive bread which of the following has occurred
Exchange
______is the only business function that is directly responsible for creating sales revenue.
Marketing
One function of marketing is risk taking which involves the chance of loss associated with marketing decisions.
True
According to the marketing concept, a business must first develop a good, service or idea and then find out what a consumer desires.
False
A consumers subjective assessment of benefits relative to cost in determining the worth of a product is know as _________________.
Value
A marketing research representative who interviews shoppers in a mall is collecting the following type of information:
Primary data
Which of the following environmental forces dictates what elements cannot be included in advertising?
Political, legal, and regulatory forces
To develop an effective marketing strategy, first select the target market and then develop a marketing mix.
True