IBT Marketing Basics Ch 10-1

All businesses must complete some marketing activities even if that is not their focus.

• True
• False

A target market is a group of consumers that have similar wants and needs.

• True
• False

The first step in new product planning is to develop a full marketing strategy.

• True
• False

Advertising is any form of communication used to inform, persuade, or remind. 

• True
• False

This marketing function involves setting and communicating the value of products and services. 

•  marketing-information management
•   pricing
•   financing
• distribution

  What is the first step in the consumer decision-making process? 

•  recognize a need
•  select alternatives
•  evaluate alternatives
•  gather information

  A (n) _  _ identifies how a company uses marketing to achieve its goals.

• Marketing Mix
• Marketing Strategy

A marketing mix is the blending of four marketing elements: price, product, promotion and _.

• Property
• Place
• Produce
• Prepare

Marketing function that deals with determining the best way for customers to locate, obtain, and use a company's products and services  ­­­­­­­­______

• marketing-information gathering / management
• distribution
• promotion
• selling

Consumers who buy products and services for their own use  _____

• business consumers
•  final consumer
• distribution
• promotion