Introduction to marketing

What is a product?

• A product is a type of marketing strategy.
• A product is a financial investment.
• A product is a legal document.
• A product is an item or service offered for sale.

A person who helps determine the marketing needs of a company, develops and implements marketing plans, and focuses on customer satisfaction is a __________.

• marketing manager
• customer service agent
• product designer
• sales representative

Why do students choose to study marketing?

• To prepare for a career in engineering
• Students choose to study marketing for diverse career opportunities and the ability to be creative.
• To learn about finance and accounting
• To gain skills in data analysis

Which of the following is not a component of the marketing concept?

• Sales orientation
• Market orientation
• Product orientation
• Customer orientation

The specific group of customers whose needs and wants a company will focus on satisfying is the __________.

• market segment
• customer base
• target market
• consumer group

The four Ps of marketing include __________.

• People, Process, Performance, Partnership
• Product, Price, Position, Promotion
• Product, Price, Place, Packaging
• Product, Price, Place, Promotion

Which function of marketing handles the activities involved in getting products through the different routes from producers to consumers?

• Promotion
• Pricing
• Market Research
• Distribution

Which function of marketing is analyzing the potential of different marketplaces in order to create strategies for targeting a specific market?

• Market segmentation
• Product positioning
• Sales forecasting
• Market analysis

Which form of economic utility is added when products are available at convenient places?

• Time utility
• Form utility
• Possession utility
• Place utility

Marketing helps create a positive cycle of economic growth by __________.

• increasing production costs for businesses.
• limiting consumer choices in the market.
• reducing the supply of goods and services.
• increasing demand for goods and services.