Introduction to Business Chapter 10: Marketing

The words "promotion" and "advertising" have the same meaning.

• true

• false

The most common advertising media include television, radio, newspapers, magazines, mass mailing, outside displays, and the Internet.

• true

• false

More time and money is spent in marketing products and services to final consumers than to other businesses.

• true

• false

If the demand for a product grows while its supply remains unchanged, you should expect its price to fall.

• true

• false

The consumer decision-making process ends with a purchase decision.

• true

• false

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

• true

• false

________ is the amount added to the cost of a product to set the selling price.

• commission

• profit

• markup

• revenue

Which of the following is a rational motive for buying a car?

• The model is popular with your friends.

• The car can go farther on a gallon of gas than other cars you are considering.

• Among the cars you are considering, this is the only one that comes in your favorite color.

• You feel strongly that you should buy a car that is made in America.

Which of the following is not a commonly used method of carrying out marketing research?

• holding focus groups

• making observations

• evaluating tax payments

• conducting experiments

Preparing information to be communicated to others is called ________.

• transcription

• decoding

• feedback

• encoding