Form 3 Term1

True or False?

Marketing involves encouraging people to buy a product or service.

• True

• False

True or False?

Sponsoring sports events is an example of marketing.

• True

• False

Product

• The cost to the buyer of goods or services

• Informing customers about products and persuading them to buy them

• Where goods or services are available

• Goods or services that are sold

Price

• Informing customers about products and persuading them to buy them

• The cost to the buyer of goods or services

• Where goods or services are available

• Goods or services that are sold

Promotion

• The cost to the buyer of goods or services

• Where goods or services are available

• Informing customers about products and persuading them to buy them

• Goods or services that are sold

Place

• Informing customers about products and persuading them to buy them

• The cost to the buyer of goods or services

• Goods or services that are sold

• Where goods or services are available

What is the correct order of the distribution process?

• Retailer - Wholesaler - Manufacturer - Consumer

• Wholesaler - Consumer - Manufacturer - Retailer

• Manufacturer - Wholesaler - Retailer - Consumer

• Consumer - Retailer - Manufacturer - Wholesaler

A consumer is best defined as ...

• Someone who purchases goods and services

• Someone that wants to buy goods and services

• Someone that needs to buy goods and services

• Someone who purchases goods and services to satisfy needs and wants

Explain the term, channel of distribution.

• The action or fact of maintaining or supporting oneself, especially at a minimal level.

• A person or business that sells goods to the public in relatively small quantities for use or consumption rather than for resale.

• A distribution channel is a chain of businesses or intermediaries through which a good or service passes until it reaches the final buyer or the end consumer

• Retail is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit.

Who is a manufacturer or Producer?

• A person or company that makes goods for sale.

• A person or company that sells goods in large quantities at low prices, typically to retailers.

• Work, especially physical work.

• Is the movement of humans, animals and goods from one location to another.