Intro to Business - Chapter 10

Which of the following would NOT generally be considered one of the marketing functions?

• Price

• Promotion

• Product

• Repair

This marketing function involves communicating directly with customers to determine their needs.

• Financial Analysis

• Product and Service Management

• Selling

• Pricing

Which of the following is a function of promotion?

• Advertising

• Improving Products

• Budgeting for Marketing Activities

• Market Research

What are the four elements of a marketing mix?

• cost, location, time, and advertising

• demographics, income, supply, and demand

• product, distribution, price, and promotion

• consumers, manufacturers, retailers, and distributors

The first step in the consumer decision-making process is to:

• recognize a need

• make a purchase decision

• select and evaluate alternatives

• gather information

Additions and improvements to a basic product are called:

• Brand Names

• Product Features

• Guarantees

• Warranties

Services are intangible. This means that:

• they have no physical form

• the availability must match their demand at a specific time

• they cost more than products

• there will be differences in the quantity of service provided

Product costs + operating expenses + profit =

• Markup

• Selling Price

• Gross Cost

• Markdown

Businesses that take part in a channel of distribution are known as:

• Distributors

• Consumers

• Retailers

• Channel Members

Personal selling is usually done:

• on the internet

• by telephone

• via advertising

• face-to-face with each customer