MK2 Ch.1&2 review

What is the goal of marketing?

• To increase sales

• To build brand awareness

• To engage with customers

• All of the above

What is the role of a marketing professional?

• To develop and implement marketing strategies

• Determine the marketing needs of the company

• Focus on customer satisfaction

• All of the above

What are the seven functions of marketing?

• Channel Management, Marketing-Information Management, Market Planning, Pricing, Product/Service Management, Promotion, Selling

• Advertising, Sales, Customer Service, Market Research, Public Relations, Distribution, Financing

• Product Development, Market Research, Sales, Distribution, Customer Service, Promotion, Pricing

• Branding, Advertising, Sales, Distribution, Market Research, Customer Service, Financing

Which of the following lists the different forms of utility?

• Form, Time, Place, Possession, Information

• Supply, Demand, Price, Cost

• Production, Distribution, Consumption, Exchange

• Goods, Services, Resources, Markets

What are the four elements of the marketing mix?

• Product, Price, Place, Promotion

• Product, Price, People, Process

• Product, Price, Physical Evidence, Promotion

• Product, Price, Place, People

What is the difference between a good and service?

• A good is a tangible product, while a service is intangible.

• A service is a tangible product, while a good is intangible.

• Both goods and services are tangible products.

• Both goods and services are intangible products.

Learning about marketing makes someone a better consumer because:

• They can identify persuasive techniques.

• They can make more informed purchasing decisions.

• They can understand market trends.

• All of the above.

What is something that a person desires but could live without?

• Want

• Need

• Water

• Shelter

What is a concept, cause, issue, image, or philosophy?

• An idea

• A product

• A service

• A utility

What is a customer who buys a product for their own use?

• Retailer

• Wholesaler

• Consumer

• Distributor