EOL Chapter 2

What is one of the major expenditures for businesses?

• Research costs

• Legal costs

• Logistics costs

• Marketing costs

What does 'UTILITY' represent in the context of logistics?

• The cost of goods and services

• The efficiency of production processes

• The value or usefulness of an item or service in fulfilling a want or need

• The profit margin of a business

Which form of utility involves having products available when they are needed by customers?

• Form Utility

• Possession Utility

• Place Utility

• Time Utility

What is the philosophy expressed as the achievement of corporate goals through meeting and exceeding customer needs better than the competition?

• Supply Chain Concept

• Economic Concept

• Marketing Concept

• Logistics Concept

Which element of the marketing mix refers to the set of utilities or characteristics that a customer receives as a result of the purchase of a product or service?

• Place

• Price

• Promotion

• Product

What is the process of creating goods and services or putting them into proper form to allow customers to buy and use?

• Form Utility

• Possession Utility

• Time Utility

• Place Utility

Which element of the marketing mix involves having the right product, at the right price, publicized with the proper promotion, and available in the right place?

• Place

• Promotion

• Price

• Product

What is the value a customer receives when they have the good in their hand or are experiencing the service?

• Form Utility

• Possession Utility

• Time Utility

• Place Utility

What is the amount of money that a customer pays for the product or service offering?

• Product

• Promotion

• Price

• Place

Which element of the marketing mix involves the delivery of service with the customer present?

• Profit

• Physical Evidence

• Process

• People