Ch 13 & 14 Review

To market a product successfully, a company has to

• spend a lot of money on advertising.
• understand what people want to buy.
• hire sales representatives.
• make sure they have a large inventory of their product.

In order to decide how and what to sell, companies need to know

• what people think about similar products.
• how to ship products.
• what specific, defined groups of people want and need.
• how to design products to meet consumer needs.

The function of marketing that involves decisions about how much to charge for products and services is called

• financing.
• marketing information management.
• pricing.
• promotion.

Distribution includes all of the following except

• purchasing.
• Internet ordering.
• stock handling.
• inventory control.

Some people support the inclusion in the marketing mix of a fifth “p,” which stands for

• people.
• parts.
• purchasing.
• preferences.

Improving upon a product that is already on the market is part of the marketing function called

• marketing information management.
• product/service management.
• promotion.
• selling.

Advertising is part of the marketing function called

• distribution.
• financing.
• promotion.
• selling.

Selecting the right channel of distribution is part of the marketing mix strategy called

• product.
• place.
• price.
• promotion.

Market researchers commonly ask shoppers to

• buy a product to get an opinion of it.
• help develop product strategies.
• tell them how to best produce and market products and services.
• respond to surveys to discover their wants and needs.

Demographics do not include

• gender.
• behavioral characteristics.
• location.
• income.