2017-2018 Marketing Block Exam Study Guide

Marketing activities and jobs have not changed much over the past 100 years.

• true
• false

When you buy an ice cream cone or a digital camera, you are involved in marketing.

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• false

Each of the nine marketing functions occurs every time a product or service is developed and sold.

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• false

The approach to managing marketing activities changes as organizations understand what makes marketing effective.

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• false

Specialization of labor resulted in less of a given product being produced to exchange with other people.

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• false

In the early 1900s, businesses were mostly concerned about producing products that the business believed customers could afford and would purchase.

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• false

Planning is the most important element of the “4 Ps of Marketing.”

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A company that relies on promotion with brochures, advertisements, and public service announcements probably has not adopted the marketing concept.

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• false

Marketing is responsible for identifying and planning for opportunities.

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• false

Businesses that do not use the marketing concept are more concerned about producing products than understanding customer needs.

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• false