1.01 Quiz 1

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

• True

• False

The marketing concept is totally about marketing a new product without considering customer needs.  If you use good marketing techniques and you know the product is good then the customer will want to buy it.

• True

• False

The five utilities of Marketing are: Form, Place, Time, Possession, and Information.

• True

• False

The 4Ps of Marketing (Product, Price, Place, Promotion) is also known as the Marketing Mix.

• True

• False

It's not important for companies to find out information about customers. 

• True

• False

Goods and services. Marketing element referring to what goods, services, or ideas a business will offer its customers. The good, service, or idea a business offers its customers.

• Product

• Place

• Price

• Promotion

The amount of money paid for a good, service, or resource. Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products.

• Product

• Place

• Price

• Promotion

Marketing element focusing on considerations in getting a selected product in the right place at the right time.

• Place

• Product

• Price

• Promotion

How you advertise your product or service.

• Product

• Place

• Promotion

• Price

A customer or a potential customer who has an unfulfilled desire and is financially able and willing to satisfy that desire

• Market

• Demographics

• Segmentation

• Mass Marketing