Intro to Business Chapter 13

What is a group of customers who share common wants and needs?

• market
• market mix
• marketing
• target market

What is the process of creating, promoting, and presenting a product or service to meet the wants and need of consumers, wherever they are?

• marketing
• target market
• market

What do companies use to build and maintain relationships with their customers?

• relationship marketing
• marketing mix
• target marketing

What is product, price, place, and promotion?

• marketing mix
• target market

What is a pathway to direct products to consumers?

• channel of distribution
• direct distribution
• indirect distribution

What occurs when goods or services are sold from the producer directly to the customer?

• direct distribution
• indirect distribution
• channel of distribution

What involves one of more intermediaries?

• indirect distribution
• direct distribution
• channel of distribution

Break-even point is the point as which total revenues equals total costs and expenses of developing and offering a product or service.

• true
• false

What is the gathering and analysis of information on the size, location, and makeup of a market?

• market research
• marketing concept
• market analysis

What involves determining the wants and needs of customers and providing them more efficiently and effectively than competitors?

• marketing concept
• marketing research
• market analysis