Chapter 11 Quiz

1. 1. Marketing is the process of combining the conception, pricing, promotion, and distribution of goods or services to create exchanges that satisfy individual and organizational objectives.

• True

• False

2. 2. A target market is a specific group of consumers toward whom a firm directs its marketing effort.

• True

• False

3. 3. The five P's are product, promotion, price, people and possession.

• True

• False

4. 4. Sales promotion, advertising, and public relations are elements of the promotion strategy.

• True

• False

5. 5. Market behavior is a term used to describe the actions people take in buying and using goods and services.

• True

• False

6. 6. The first step in the consumer decision-making process for buying sandals would be for the weather to turn hot and me to realize I have no footwear that doesn't make my feet sweat.

• True

• False

7. 7. Selling retirement plans to people over the age of 50 is an example of demographic segmentation.

• True

• False

8. 8. A product is any good or service, along with its perceived attributes and benefits, that satisfies wants.

• True

• False

9. 9. In the product development process, most companies utilize the concepts of brainstorming, screening, and test marketing.

• True

• False

10. 10. Price skimming is a price strategy often used in the maturity stage of the product life cycle.

• True

• False