Principles of Marketing: Chapter 1 Test Review

Marketing activities & 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.

• True

• False

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

• True

• False

The primary reason for a business to exist is to provide employment for people.

• True

• False

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

• True

• False

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

• True

• False

Which of the following businesses is directly involved in marketing?

• a freight office

• a law office

• a bank

• all of the above businesses are directly involved in marketing

This marketing function provides security for products, personnel, and customers.

• selling

• pricing

• risk management

• promtion

Exchanging products or services with others by agreeing on their values is known as

• marketing

• selling

• promoting

• bartering

A location where people bring products to be conveniently exchanged is a

• central market

• crossroads

• stock exchange

• money system