Marketing: Marketing Basics Review

Developing, distributing, and promoting a product, along with setting marketing objectives make up the

• 4 P's of the Marketing Mix

• Foundations of Marketing

• Marketing Utilities

• customer profile

Marketing ___ the price we pay for products.

• increases

• decreases

• can both increase and decrease

Putting multiple parts together to make a single product that is more valuable than the individual parts

• place utility

• form utility

• possession utility

• time utility

Communicating with consumers about a product

• possession utility

• place utility

• time utility

• information utility

Offering the option of paying with cash, credit card, or a check.

• information utility

• place utility

• possession utility

• form utility

Having snow shovels in stock during the months of November through February in PA.

• possession utility

• time utility

• form utility

• information utility

Lucas's Lollipops had $1 million in sales, the total lollipop sales for Lebanon was $4 million. What is Lucas's market share of lollipop sales in Lebanon?

• 25%

• 50%

• 400%

• 40%

Which of the following automakers would most benefit from target marketing rather than mass marketing their product?

• Ford

• Honda

• Toyota

• Ferrari

A typical customer profile includes all of the following except

• demographic informatiom

• psychographic information

• market share information

• geographic information

_ is the process of developing, promoting, pricing and distributing ideas, goods, or services, to satisfy customers’ needs and wants.

(a)