Marketing Principles

What type of economic utility involves changing a raw material or assembling parts to make a product?

• Time

• Information

• Possession

• Place

• Form

What is the focus on Relationship Era marketing?

• Marketing to customers

• Selling to Customers

• Long-term connection to customer

• Making product for customers

Which of these items is made up of elements known as the "4 Ps" (product, pricing, place, promotion)?

• Marketing Plan

• Marketing Concept

• Target Market

• Marketing Mix

What is the term for a group of people who are most likely to buy a product?

• Marketing Mix

• Consumer Market

• Target Market

• Market Segment

Which of these statements about the impacts of marketing are TRUE?

• Virtually all of the goods and services you use are marketed.

• Marketing impacts our daily lives, our society, and even the environment.

• The impacts of marketing can be both positive and negative.

• All of the above

Which market classification includes people who intend to use or benefit from products and do not buy them to make a profit?

• Consumer Market

• Business-to-Business Market

Which of these items is an example of Place utility?

• Packaging related products together in a container for a special price

• Recording a salesperson as he or she demonstrates a product

• Putting more expensive products on shelves at eye level

• Arranging special credit programs to purchase a high-ticket item

What is the term that refers to adding value to a product by making it more useful?

• Marketing plan

• Comparison shopping

• Economic utility

• Market segment