Chapter 1.2 Quiz: Marketing

Time utility involves having a product available at a certain time of year or day.

• TRUE

• FALSE

The "buy one get one free" strategy is an example of distribution.

• TRUE

• FALSE

Selling exercise equipment through catalogs mailed to ABA members and other athletes is an example of place utility.

• TRUE

• FALSE

Which of the following utilities involves making products?

• 1. information utility

• 1. form utility

• 1. place utility

• 1. possession utility

Which economic utility increased when fast-food restaurants began accepting credit cards?

• 1. possession utility

• 1. form utility

• 1. information utility

• 1. place utility

What does a miniature golf business provide to its customers?

• 1. a promotion

• 1. a good

• 1. an exchange

• 1. a service

To increase the ____________________ utility of their products, some retailers offer installment or layaway plans.

The employees of a home-improvement warehouse are expert craftspeople who enjoy giving their customers advice about do-it-yourself projects. The employees' advice increases the ____________________ utility of their goods.

Transforming old glass bottles into beautiful new sculptures is an example of ____________________ utility.

When a product's demand and production increase, ____________________ usually decreases.