QUIZ 2: THE ENVIRONMENT AND MARKET

What is the business or trade-in particular product, including financial products?

• Market

• Marketplace

• Marketing

• All of the above

What is the physical store where a consumer goes shopping for needed or wanted goods or services?

• Market

• Marketplace

• Marketing

• All of the above

What is the action or business of promoting and selling products or services?

• Market

• Marketplace

• Marketing

• All of the above

What should be the next step after generating the product idea of the needed, wanted, and demanded product of the community In the core concept of marketing?

• Exchange and transactions

• Identify the needs, wants, and demands of the community.

• Determine the target market

• Ensure the value, satisfaction, and quality of the product

What are the goods or services required for health and safety?

• Needs

• Wants

• Demands

• All of the above

What are the goods or services that are desirable or of interest and are not necessary for survival?

• Needs

• Wants

• Demands

• All of the above

What is the quantity of a commodity or service wanted at a specified price and time?

• Needs

• Wants

• Demands

• All of the above

Identify the method of gathering and using the information in environmental scanning;

Asking your client's feedback after you hand over his commissioned artwork.

• A casual conversation

• A chance observation of a target customer

• A formal market research program

Identify the method of gathering and using the information in environmental scanning;

Hiring researchers to identify the most used products in the market.

• A casual conversation

• A chance observation of a target customer

• A formal market research program

Identify the method of gathering and using the information in environmental scanning;

You monitor students purchasing ability in a bookstore.

• A casual conversation

• A chance observation of a target customer

• A formal market research program