Marketing - Chapter 1 Test Review

How many functions of Marketing are there?

• 4

• 1

• 5

• 7

How many Parts are in the Marketing Mix?

• 7

• 8

• 2

• 4

This Function involves direct and personal communication

• Product

• Selling

• Distribution

• Finance

Gathering  information, storing it and analyzing it are all a part of: 

• Market Planning
• Promotion
• Product/Service Management
• Marketing Information Management

_____________  decisions dictate how much to charge for goods and services in order to MAKE A PROFIT.

• Pricing
• Promotion
• Selling
• Market Planning

To determine a price, marketers must also determine how much customers are willing to pay.

• True
• False

Obtaining, developing, maintaining and improving a product or a product mix in response to market opportunities.

• Product/Service Management
• Market Planning
• Promotion
• Marketing Information Management

The process of planning, pricing, promoting, selling and distributing ideas, goods, or services to create exchanges satisfying customers is 

• advertising
• marketing
• utility
• market share

Include four basic marketing strategies called the 4Ps. They are 

• place, price, product, purchase
• place, price, purchase, promotion
• place, price, promotion, product

How the consumer gets the product

• Place/distribution

• Price

• Promotion

• Sales strategy