Unit 1 Glossary Quiz

What are items that don't wear out quickly and last a long time, like cars and smartphones?

• Durable Goods

• Non Durable Goods

• Promotion

• Marketing

What is the enterprise and pursuit of ideation, creation, and delivery of profitable products and services to targeted customers for their benefit and society as a whole?

• Durable Goods

• Marketing

• Pricing

• Initiative

Which term refers to items that are quickly consumed and only last a short period of time, like fast food and shampoo?

• Durable Goods

• Marketing Information Management

• Non-Durable Goods

• Stakeholder

What is the process of informing potential customers that a product or service exists and the results they should expect from using it?

• Promotion

• Selling

• Marketing-Information Management

• Stakeholder

What involves identifying, evaluating, negotiating, and selecting distribution channels to get products from the producer to the end user?

• Commodity

• Channel Management (Place)

• Initiative

• Entrepreneur

What is the individualized attention provided and available to customers throughout their lifespan as customers?

• Customer Service

• Sports Marketing

• Personal Care Products

• Adaptable

What involves researching a business's target market, customers, competing products, and industry trends?

• Pricing

• Marketing Information Management

• Trait

• Competitor Scorecard

What is the process of creating strategies, goals, objectives, processes, and procedures to attract the target customer to a business?

• Business Goals

• Marketing

• Marketing Planning

• Commodity

How do businesses determine the amount of money they should charge for their product or service?

• Marketing

• Promotion

• Selling

• Pricing

What involves creating new products, updating existing products, and eliminating poor-performing products based on research and feedback?

• Promotion

• Initiative

• Product/Service Management

• Skill