Chapter 10 - Marketing Review (Sections 10.1 and 10.2)

Which is not a marketing function?

• Product

• Distribution

• Selling

• Pricing

All businesses, including service businesses, must complete some marketing activities.

• True

• False

Transportation companies (trucking, air freight, railroad, etc.) are considered a marketing business.

• True

• False

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

• 40

• 50

• 60

• 70

When developing a marketing strategy, the first step is to

• determine the solution to the problem

• develop your product/service

• develop a marketing mix

• identify your target market

Effective marketing begins with

• producers

• intermediaries

• consumers

• sellers

The first step in the consumer decision-making process is

• to gather information

• to make a purchase decision

• to recognize a need

• to select alternatives

Rational buying motives are guided by

• fear

• facts

• beliefs

• attitudes

Finding solutions to problems through carefully designed studies involving consumers is known as

Analyzing existing information gathered for another purpose but used to solve a current problem is called

• primary research

• secondary research

• third-party research

• final research