Marketing Ch. 1 Quiz

What are the 4 P's of Marketing?

• product people place price

• product promotion place price

• pickles people place price

• product place price pickles

Which one of the historical approaches to marketing listed below is the one that is currently in favor today?

• marketing concept emphasis

• production emphasis

• sales emphasis

• marketing department emphasis

There are three elements of the marketing concept. Please select the correct elements in the correct in order below.

• Charge the highest

  price possible in order to make a profit

  Cut prices to

  encourage customers to buy

  
  

  Identify the needs

  of customers in order to satisfy them

• Identify the needs

  of customers in order to satisfy them

  Create funny ad

  campaigns to win new customers

  
  

  Develop products and

  services that customers believe are better than others

• Identify the needs

  of customers in order to satisfy them

  Develop products and

  services that customers believe are better than others

  Operate the business profitably

• Develop products and

  services that customers believe are better than others

  Identify the needs

  of customers in order to satisfy them

  Operate the business profitably

Budgeting for necessary financing, providing financial assistance to customers to help them purchase products/services

• product/service management

• financing

• marketing information management

• pricing

Determining the best procedures and methods so customers can locate, obtain and use the products and services of an organization

• market planning

• promotion

• risk management

• distribution

marketing information management

• Obtaining, managing and using market information to improve decision making and marketing activities

• Communicating information to customers through advertising and other methods to encourage them to buy

• Establishing and communicating the value of products and services to prospective customers

1. Marketing is the __________ and (2) ______________ of

_____ _______________ exchange relationships

• creation promotion satisfying

• promotion creation satisfying

• creation maintenance satisfying

Providing security for products, personnel and customers, minimizing threats associated with marketing activities

• product/service management

• market planning

• risk management

Establishing and communicating the value of products and services to prospective customers

• pricing

• market planning

• promotion

Direct, personal communication with prospective customers in order to assess their needs

• advertising

• promotion

• selling