Final Exam PBM

Tasks that businesses perform for consumers are known as __

• services

• resources

• goods

• fees

Good choices are easier to make if you use the process of ___.

• identification

• choice

• decision making

• consideration

Once your decision is put into effect, you should ___.

• reconsider

• doubt it

• relax

• evaluate it

Business is any commercial activity that seeks ___

• profit

• money

• retail

• goods and services

The four elements of a marketing mix are ________.

• promotion, distribution (place), targeting, and product

• product, distribution (place), price, and promotion

• product, price strategy, and promotion

• price, promotion, strategy, and targeting

A business must plan each of its products to make sure it meets the needs of the target market better than similar products offered by competitors.

• true

• false

The words "promotion" and "advertising" have the same meaning.

• true

• false

An amount added to the cost of a product to establish the selling price is ________.

• 
  target market

• markup

• pricing

• promotion

Companies thrive on

• limits

• service

• competition

• monopoly power

The act of gathering and analyzing information about the wants, needs, and preferences

of consumers in a certain market is called

• being nosy

• market research

• planning

• doing your job