Fundamentals of Marketing

A strategy is best defined by which of the following?

• A specific action which will advance the company and achieve an end result

• A statement describing the overall approach to how goals and objectives will be achieved

• A specific, measureable, short-term expectation for the future

• A broad, long-term expectation for the future

Simply put, marketing attempts to satisfy people’s needs.

• True

• False

What are the 4 P's of marketing?

• Person, Place, Price, Promotion

• Place, Promotion, Price, Prospect

• Prospect, Promotion, Product, Place

• Product, Price, Promotion, Place

Which is an example of audio media?

• Radio

• Car ad

• Billboard

• YouTube

Social media is the only form of marketing?

• True

• False

Marketing is the activity, set of institutions and processes for ________, communicating, delivering, and exchanging offerings that have _____ for customers, clients, partners, and _______ at large.

• Creating, value, people

• Developing, value, society

• Creating, value, society

• Developing, service, people

According to Jeffrey Harper, why is market research important?

• Without research data to base decisions on, marketers are just guessing

• By researching, people know marketers care about them

• Data generated by research can be sold to make extra money

• Research is fun, easy and cheap so even if nothing is learned, the experience is good

Which of the following is NOT affected by marketing?

• The locations you shop

• The items you purchase

• The product regulations

• The use of the products

Which of the following is NOT a discussed method of segmenting markets?

• Geography

• Demographics

• Psychographics

• Randomly

Which of the following is NOT one of the discussed functions of marketing?

• Pricing

• Buying

• Marketing information management

• Financing