Chapter 4 Review-Marketing Basics

The earliest use of marketing was to 

• conduct marketing research
• move products fro producer to consumer
• use advertising and selling to convince customers to buy
• identify new market opportunities

New markets and ways to improve a company's offererings in current markets are known as

• innovations
• the marketing concept
• market opportunities
• marketing experiences

When marketing is _____it is considered an essential part of the business and it is involved in all important business decisions.

• integrated
• independent

Which of the following is evidence that a business is using the marketing concept?

• being concerned only about the product or service
• believing they know what the customer wants
• using only a few marketing tools
• studying the market

When a business has a market orientation, instead of inventing a ______ for a ______, it seeks to create a ______ for a ______

• product; market; need; product
• market; product; product; need

Marla Santoz can purchase economy car batteries for $28 and sell them for $42. She can buy heavy-duty batteries for $68 and sell them for $86. Research tells her that if she stocks both economy and heavy-duty batteries, she can sell 22 economy batteries and 13 heavy duty batteries per month. What would be her total sales and total profit if she sells all of the batteries?

• $942; $1500
• $884; 1118
• $2042; $542

Without the marketing concept, a business will develop a product or service and then decide how to market it. 

• true
• false

Various groups of customers may have different needs. 

• true
• false

Product planning must be done before any marketing decisions are made. 

• true
• false

The marketing mix combines product, distribution, price, and promotion. 

• true
• false