Marketing Unit 1

Marketing activities & jobs have not changed much over the past 100 years.

• True

• False

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

• 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

The first step of the marketing concept is to

• hire a team of talented marketing professionals

• develop top-quality products or services

• operate at a profit

• identify what will satisfy customers' needs

FrostWhip budgets 45% of its total expenses for marketing. Total expenses for the company this year is $550,000. What is the dollar amount FrostyWhip has budgeted for marketing?

• $247,500

• $24,750

• $302,500

• $30,250

A company is considering a marketing mix. It projects it can sell 10,000 units at a price of $25.00 per unit with a total cost of $198,000. What is the projected profit?

• $52,000

• $5,200

• $48,000

• none of these

The __ function determines the best way to help customers locate, obtain, and use an organization's products and services.

• distribution

• pricing

• risk management

• merchandising