Management Chapter 10

Not all marketing is directed at consumers.

• True

• False

Marketing activities often cost 50 percent or more of the selling price of a product or service.

• True

• False

The first step in developing a marketing strategy is to create a marketing mix.

• True

• False

The consumer decision-making process is different for final consumers than for business consumers.

• True

• False

Studies carried out to gather new information specifically directed at a current problem is called primary marketing research.

• True

• False

Services can be stored for later consumption.

• True

• False

Totally new products that have never been seen by customers are not often introduced.

• True

• False

Businesses gain efficiency by producing large amounts of products at one time.

• True

• False

Personalized promotion is the most effective and least expensive form of marketing communication.

• True

• False

Choosing target markets and studying their needs and decision-making processes can make promotion more effective.

• True

• False