Marketing Mid-Term

Distribution, price, promotion, and product are all elements of

• marketing strategy

• the marketing mix

• target market

• a business strategy

The definition of marketing implies that ____ should receive benefits from exchange relationships.

• only customers

• only businesses

• both customers and businesses

• only the most important customers

The three basic forms that a product can take are

• markets, products, and images

• goods, ideas, and intangibles

• brands, services, and tangibles

• services, ideas, and goods

The forces of the marketing environment include

• political, legal and regulatory, sociocultural, technological, economic and competitive

• legal, regulatory, political, sociocultural, pricing strategies, and technological

• political, legal and regulatory, pricing strategies, fairly static components

• sociocultural, legal, regulatory, economic, pricing strategies and competitive

Marketing activities

• are aimed at persuading customers through advertising

• are important only when a firm is developing new products or entering new markets

• help sell an organization's products and generate financial resources for the firm

The marketing concept is best defined as

• a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals

• a philosophy stating that an organization should attempt to accomplish its goals with no regard for the needs of customers

• the inclusion of marketing activities in the activities of an organization

When General Motors (GM) buys electrical wiring to use in manufacturing their trucks, GM is part of what type of market for the electrical wiring?

• resale

• wholesale

• customer

• business

Consumer confidence is at a low during periods of

• recession

• prosperity

• recovery

• depression

Which of the following agencies regulates marketing activities the most?

• EPA

• FDA

• FTC

• BBB

The four basic rights outlined in the Consumer Bill of Rights include the right to safety, the right to be heard, the right to

• inform and the right to be chosen

• choose and the right to be informed

• to consumer education, and the right to honesty