POB - Ch. 10 - Marketing - Test Review

Not all marketing is directed at consumers.

• True
• False

Marketing activities often cost 50 percent or more of the selling price of a product or service.

• True
• False

The first step in developing a marketing strategy is to create a marketing mix.

• True
• False

The consumer decision-making process is different for final consumers than for business consumers.

• True
• False

Services can be stored for later consumption.

• True
• False

Businesses gain efficiency by producing large amounts of products at one time.

• True
• False

Choosing target markets and studying their needs and decision-making processes can make promotion more effective.

• True
• False

Which of the following would NOT generally be considered one of the marketing functions?

• pricing
• repairing
• promotion
• selling

Which marketing function involves communicating directly with potential customers to determine their needs?

• financial analysis
• pricing
• product and service management
• selling

Which of the following is a function of promotion?

• advertising
• budgeting for marketing activities
• improving products
• market research