Introduction to Marketing, Unit Test Review

Front

Which of the following is NOT the meaning of a market? Options: All of the potential customers that have the ability and desire to purchase a business’ products, Where customers go to purchase products, Where customers, and potential customers, are physically located

Back

All of the businesses that have the ability and desire to sell products

Front

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 is called:

Back

Marketing

Front

Marketing is both a philosophy and a function.

Back

True

Front

Four Marketing Philosophies are: Product, Sales, Market and Societal Marketing Orientation.

Back

True

Front

The idea that companies should analyze the needs of their customers, and then make decisions to satisfy those needs better than the competition is called what?

Back

The marketing concept

Front

According to the marketing concept, businesses must focus on satisfying: Customer best interests and needs, Customer needs and wants, Customer price limitations and needs, Customer price limitations and wants

Back

Customer needs and wants

Front

A need is a basic unit of survival. It is something that a person cannot live without.

Back

True

Front

A want is something that is desired

Back

True

Front

A unique blend of product, price, place, and promotion strategies designed to produce mutually satisfying exchanges with consumers is often referred to as the:

Back

Marketing Mix

Front

Which of the following make up the “four P’s” of marketing? Price, Place, Promotion, Public Relations, Product, Personal Selling, Place, Promotion, Price, Place, Promotion, Product, Price, Promotion, Personal Selling, Public Relations

Back

Price, Place, Promotion, Product