1: Marketing Foundations

Someone who watches several hours of Netflix every week would be considered what type of user?

• light

• medium

• heavy

• occasional

What function of marketing refers to the process of matching customer needs and wants with the features and benefits of a product?

• distribution

• pricing

• selling

• promotion

What function of marketing includes advertising and publicity to inform consumers about the company and/or the goods and services?

• selling

• pricing

• product/service management

• promotion

Obtaining, developing, maintaining, and improving a good or service is an example of which of the following terms?

• product/service management

• Henry Ford concept

• marketing concept

• marketing information management

What term refers to the process of conducting research and analyzing what is taking place among buyers and sellers locally, nationally, or globally?

• product/service management

• Henry Ford concept

• marketing concept

• marketing information management

What is another term for intangible products?

• goods

• needs

• services

• wants

What are things necessary for survival called?

• wants

• needs

• services

• products

What term, when defined, includes distribution, promotion, product/service management, and selling as examples?

• distribution

• marketing mix

• marketing foundations

• functions of marketing

What term refers to the process of researching and selecting a group of people with similar characteristics that has the means and the desire to purchase certain goods or services?

• consumer market

• market

• target market

• industrial market

What is considered the smallest segmentation of target marketing?

• consumers

• target market

• mass market

• niche market