Marketing for Entrepreneurs

This is the process through which goods and services are created and provided to the customer:

• production
• marketing
• merchandising
• selling

Marketing is known as the creation and maintenance of satisfying _______________ relationships.

• selling
• exchange

Which of the following statements BEST describes where marketing takes place?

• Marketing is limited to certain places and times during the day.
• Marketing takes place everywhere and is a constant force in our lives.
• Marketing takes place at some public places but not all and usually goes unnoticed.
• Marketing takes place exclusively in a central marketplace.

Which of the following is a FALSE statement about marketing?

• To be successful in business requires that businesses be marketing oriented.
• Most of the businesses in the U.S. are involved in marketing.
• Non-profit organizations, such as Arkansas Children’s Hospital, use marketing.
• Events, such as the Crooked Creek Crawdad Days music festival, use marketing.

The combination of the four basic marketing decisions - product, place, price, and promotion:

• marketing mix
• target marketing
• marketing concept         
• demographics

This is anything offered to a market by the business to satisfy needs, could include a physical good or an intangible service.

• product
• price
• place
• promotion

The locations and methods used to make the product available to customers:

• product
• price
• place
• promotion

This is the amount the customer will pay for the product. The value of money or its equivalent placed on a good or service.

• product
• price
• place
• promotion

This is any form of communication a business or organization uses to inform, persuade, or remind consumers about its products or services.

• product
• price
• place
• promotion

This means satisfying customer's wants and needs while making a profit. It is a company-wide consumer orientation.

• promotional concept
• marketing concept
• promotional concept
• revenue generating concept