Marketing Principles_F

What term refers to product, price, place, and promotion?

• four Ps

• market

• marketing concept

• marketing information management

What is another term for intangible products?

• goods

• needs

• services

• wants

What are things necessary for survival called?

• wants

• needs

• services

• products

A company is targeting a specific market based on population characteristics (e.g., racial, class, age, gender, marital status)?

• behavioral

• demographics

• psychographics

• geographics

The haircut I get at my local barber shop is best described as a ________________.

• want

• need

• service

• good

People who only use Heinz ketchup fall into which type of market segmentation?

• behavioral/product benefits

• demographics

• psychographics

• geographic

When there is a shortage in a market,

• there is downward pressure on price.

• there is upward pressure on price.

• the market could still be in equilibrium.

• the price must be above equilibrium.

Factors of production include which of the following?

• land, labor, and capital

• technology products and entrepreneurship

• goods and services

• all of the products produced in an economy

As an economic term, land includes

• Work people do.

• Machinery

• Natural resources.

• Knowledge

Who takes the other three factors of productions and puts them together to create a business?

• Entrepreneur

• Laborer

• Economist

• Worker