Business Management: Chapter 20 Test Review

Marketing activities, when performed well, help to match production and consumption.

• True

• False

The goal of effective marketing is to create and maintain satisfying exchange relationships.

• True

• False

Retailers are businesses that sell to other businesses.

• True

• False

Production is an important marketing activity.

• True

• False

Businesses that emphasize distribution & promotion in order to sell the products are said to be sales-oriented.

• True

• False

Target markets are groups of customers with very similar needs to whom the company can sell its products.

• True

• False

The blending of all decisions that relates to the four elements of marketing is called marketing research.

• True

• False

The marketing elements include product, price, place and advertising.

• True

• False

Pricing is the easiest of the marketing decisions because it involves only setting a price that the customer will pay for the products.

• True

• False

A marketing plan can be used to help coordinate marketing activities.

• True

• False