Marketing Midterm Study Guide 1

Marketing is described as creating

• A. exchange

• B. needs

• C. advertisements

• D. gaps

Which of the following is a marketing activity?

• A. Balancing customer needs with wants

• B. Communicating with customers

• C. Leading a project team

• D. Lowering operational expenses

What provides the basis for all marketing goals and actions?

• A. Pricing

• B. Budgeting

• C. Retailing

• D. Planning

In an overall sense, where does marketing occur?

• A. Wherever advertisements are

• B. Wherever customers are

• C. Wherever stores are

• D. Wherever businesses are

Of the following, which is a durable good?

• A. coffee mug

• B. insect repellent

• C. hamburger

• D. lip balm

Which of the following activities is an aspect of marketing a service?

• A. Finding out customers' favorite coffee flavors

• B. Determining how much to charge for a haircut

• C. Offering a new, improved cellphone

• D. Advertising the state of Michigan on television

In the marketing concept, whose point of view matters most?

• A. Seller's

• B. Marketer's

• C. Buyer's

• D. Planner's

According to the marketing concept, which option shows company commitment?

• A. Setting aside funds to research what customers want

• B. Pricing a product to maximize profitability per item

• C. Teaching marketing to college marketing students

• D. Leaving marketing to the market department

Without marketing, producers and customers would be

• A. in close communication with each other

• B. highly dependent on advertising agencies

• C. disconnected from each other

• D. exposed to many new and improved products

There are many activities in marketing that are interrelated and similar in purpose. These activities are referred to as

• A. Functions

• B. Responsibilities

• C. Tactics

• D. Strategies