PBM - Chapter 1 Test - Marketing is All Around Us

A category of jobs that involves similar skills and aptitudes.

• Industry-wide Job

• Job Level

• Occupational Area

• Marketing

Changing raw materials or putting parts together to make them more useful.

• Form Utility

• Place Utility

• Time Utility

• Usable Utility

Goods and services, both of which have monetary value and satisfy customers’ needs and wants.

• Productive

• Produce

• Products

• Services

Having a product available at a certain time of year or a convenient time of day.

• Form utility

• Time utility

• Place utility

• Possession utility

Consumers expect to be able to purchase motor oil from auto-parts stores. This is an example of which utility?

• Form

• Place

• Time

• Information

Which of the following is the best example of automation?

• Uncle Jerry getting a promotion to work on maintaining machines around the factory.

• Uncle Jerry getting laid off from his job because the company installed machines and computers that can do his job.

• Old machines being replaced with newer machines at Uncle Jerry's place of work.

• none of these are good examples of automation.

• Uncle Jerry getting laid off from his job because the company found someone else who can better operate the machines and computers at the factory.

Privileges, or monetary payments beyond salary or wages, that go with a job are called _________.

If Target decides to implement a lay-a-way program, then they would be offering customers another way to pay for goods. This is an example of Target increasing their possession utility.

• True

• False

What is the definition of marketing?

• The process of developing, promoting, and distributing products to satisfy customers’ needs and wants.

• Goods and services, both of which have monetary value and satisfy customers’ needs and wants.

• The process of making raw materials more useful for the customer's benefit.

• Communicating to inform, persuade, or remind people about business products.

Having a barber cut your hair is an example of buying a good, and having an accountant prepare your taxes is an example of buying a service.

• True

• False