Winter Marketing Fundamentals

Marketing can best be thought of as a(n)

• profit

• activity

• need

• process

Which marketing activity helps to create and stimulate demand for products?

• promotion

• planning

• distributing

• pricing

Identify the term which refers to the activities involved in shipping, handling, and storing items on the way from the producer to the consumer.

• product planning

• distribution

• people

• economics

Which of the following is a benefit to the consumers of the exchanges which occur as a result of marketing?

• brand loyalty

• making profits

• obtaining needed items at the right time

• determining how to meet unlimited wants with limited resources

How do producers benefit from the exchanges which result from marketing?

• making a profit

• satisfying unlimited wants with limited resources

• obtaining needed items for the right price

• achieving goals

The business philosphy that focuses on giving customers what they want is known as

• customer orientation

• marketing concept

• "The customer is always right."

• making a profit

By enabling consumer to obtain goods and services at the right time and in the right place, marketers are adding ___ to goods and services.

• utility

• costs

• profit

• delivery

The number of jobs in marketing is increasing faster than jobs in production.

• True

• False

When considering the production capacity of businesses and the buying power of consumers, you can see that business's real problem is

• marketing all the things that are produced

• offering a sufficient variety of products

• identifying which consumers buy their products

• overcoming customers' distrust

What does it meant to live in an economy of abundance?

• There is low unemployment and high inflation in the economy.

• Manufacturers produce more than consumers can use.

• Producers must heavily advertise.

• Producers and consumers are linked.