Ch 1 Marketing Test – Flashcards
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financing - industrial - pricing - product Obtaining the money needed to start and operate a business is a marketing function known as ____________________.
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financing
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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? ____________________
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product
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Obtaining, developing, or improving a product
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product/service management
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Deciding how much to charge for goods and services
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pricing
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The added value of a product in economic terms
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utility
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Providing customers with goods and services they want
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selling
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Planning, promoting, and distributing products
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marketing
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Tangible items
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goods
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Percentage of total sales generated by competing companies
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market share
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Deciding how goods get into customers hands
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distribution
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Businesses that buy products for use in their operations
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industrial market
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Product, price, place, promotion
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marketing mix
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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?
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market research
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The owner of a miniature golf business provides her customers with?
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service
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financing - industrial - pricing - product Shopping at Target and paying cash for your purchases is a function of
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pricing
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"Buy one get one free." This is an example of distribution. (True or False)
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False
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In business, a marketing concept will list information such as ethnic background, age, income level and geographic location. (True or False)
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False
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After watching Saturday morning cartoons, Bobby asked his mom to buy him Honey Nut Cheerios. According to the text Bobby is considered...
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a consumer
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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
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industrial
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People who share similar needs and wants and who can purchase your products are called a market. (True or False)
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True
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According to the text, the place is the means of getting the product into the consumer's hands. (True or False)
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True
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The purpose of communicating with customers is to
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attract customers' interest
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Marketing encourages people from different countries to __________ frequently.
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trade
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Marketing is described as creating...
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exchanges
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Which of the following activities is an aspect of marketing a service:
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Determining how much to charge for a haircut
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Overall, what does marketing allow us to do?
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Live our daily lives
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According to the marketing concept, which option demonstrates customer orientation?
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Finding out what a buyer wants
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According to the marketing concept, keeping company goals in mind means to
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maintain the firm's purpose
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Of the following, which is a durable good
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Coffee mug
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How do marketers get their messages to customers?
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By communicating with them
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In an overall sense, where does marketing occur?
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Wherever customers are
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Determining how to coordinate all of the marketing activities
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Planning how to carry out the marketing process
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Conducting research to identify products that would satisfy customers
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Finding out about customers
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Taking a product for a "test drive"
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Offering the products customers want
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Identifying a price that buyers and sellers both like
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Determining how much to charge for the products
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Sponsoring a charity event
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Communicating with customers
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Determining where customers are likely to purchase a certain product
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Putting products where they need to be
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What provides the basis for all marketing goals and actions?
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Planning
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Which of the following is a marketing activity
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Communicating with customers
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For both the customer and the seller, striking the right pricing balance makes the exchange
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beneficial
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Which of the following is the most common reason for businesses to search for ways to make their products better and cheaper
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Competition
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Without marketing, producers and customers would be
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disconnected from each other
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According to the marketing concept, which option shows company commitment?
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Setting aside funds to research what customers want
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In the marketing concept, whose point of view matters most?
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Buyer's
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Which of the following is a method used to communicate with customers:
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Personal selling
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Marketing links producers to
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customers
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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
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Marketing Concept
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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
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Marketing
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Any paid form of nonpersonal presentation of ideas, goods, or services
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Advertising
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The general conditions in which people live; quality of life
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Standard of Living
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Promotional activities other than advertising, personal selling, and publicity that stimulate customer purchases
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Sales Promotion
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Intangible activities that are performed by other people for money; productive acts that satisfy economic wants
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Services
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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
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Publicity
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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
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Personal Selling
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Tangible objects and materials
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Goods
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Marketing element referring to what goods, services, or ideas a business will offer its customers
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Product
