What is Marketing? 1.1.2

Which of the following is the most complete definition of marketing?

• A set of activities done to maximize profits

• A set of activities done by an organization to satisfy its customers and meet internal goals

• A set of activities done to find new markets to meet customer needs

• A set of activities done to grow an organization's customer base

Which of the following is true about goods and services?

• Goods are physical while services are intangible

• Goods are generally more expensive to the sonsumer

• Services are usually provided at a distance while goods are produced locally

• Goods and services are often sold by the consumer

Which of the following is an example of a company that primarily provides a service?

• A sporting goods outlet

• A grocery store

• A clothing store

• an airline

What is the name given to the operations used by most organizations to reach their customer goals?

• Research and development

• Market planning

• Universal marketing functions

• customer support

Which of the following marketing variables is concerned with design, quality, and packaging?

• promotion

• place

• product

• price

Which of the following statements accurately describes the free enterprise system in the Unite?

• Businesses are generally free of government ownership and control

• Organizations are completely free to conduct business as they see fit

• Government closely regulates all aspects of production

• There is a limit on how much profit a business can make

A business initially sells their product to customers for $50. They find that many people are buying their product, so they raise the price to $100. Which of the following is a likely response that they will receive from customers?

• Customers will likely buy more of their product.

• Customers might begin to distrust the company

• Customers will start to complain about promotion

• Customers will start to complain about the placement of the products

What is one of the reasons marketing is essential to the free market system?

• The sales of advertising makes television programming possible

• It ensures that companies make a healthy profit

• It employs more people than any other career group

• It helps educate consumers about competitive products

What is the name for a segment of a consumer market that has specialized productneeds?

• target market

• marketing mix

• customer support group

• marketing niche

Which of the following marketing variables is concerned with hiring and training of an organization's sales force

• place

• product

• promotion

• price