Marketing: Chapter 1

The process of developing, promoting, and distributing products to satisfy customers' needs and wants is ?

• Exchange

• Advertising

• Marketing

• Economics

Every time something is sold in the marketplace, what takes place?

• Marketing research

• Exchange

• Financing

• Product Management

Products include goods and services, both of which have monetary value and satisfy customers' wants and needs.

• True

• False

The 4 basic foundations of marketing include

• Business, Management, Entrepreneurship

• Communication and Interpersonal Skills

• Economics and Professional Development

• All of these

There are 4 foundations of marketing

• True

• False

The marketing function that deals with deciding where and to whom products need to be sold to is

• Financing

• Pricing

• Distribution

• Information Management

The Marketing function that deals with getting the money that is necessary to pay for the operation of a business

• Financing

• Distribution

• Pricing

• Selling

The Marketing function that mainly deals with information gathered from marketing research is

• Pricing

• Product/Service Management

• Selling

• Marketing Information Management

The Marketing function that deals with how much to charge for goods and services

• Distribution

• Financing

• Pricing

• Selling

The Marketing function that involves obtaining, developing, maintaining and improving a product

• Marketing Information Management

• Product/Service Management

• Promotion

• Selling