Marketing Ch, 4 Pretest

Consumers with different needs require

• price incentives

• more advertising

• fewer product choices

• specialized products and services

If a company understands the marketing concept, its first step will be to

• develop a product

• identify potential customers and their needs

• distribute the product

• develop a marketing mix

Consumers expect value from businesses in the form of

• Lower prices

• Higher quality

• More service

• All of the above

Service price is difficult to compare because

• Business has little control over price

• Service businesses do not sell a wide variety of products

• Different businesses may offer the service in a different way

• A middleman is involved

Today’s marketers are always looking for

• Problems

• New markets

• Value

• New products

Most companies are in __________________________ competition.

• pure competition

• monopolistic competition

• an oligopoly

• a monopoly

The typical purchasing process begins when consumers

• evaluate options

• determine the satisfaction the decision creates

• recognize a need

• identify possible solutions

The primary focus of the marketing concept is

• responding to competition

• reducing costs

• none are correct

• increased sales

Parts of the product decision that can improve customer satisfaction are

• Special Features

• Promotion

• Research

• Customer Identification

Which of the following is not a part of the product mix element?

• product uses

• the actual physical product

• transportation

• services