Unit 4 Study Guide

Which of the following is the most common reason for businesses to search for ways to make

their products better and cheaper?

• Competition

• Publicity

• E-commerce

• Service marketing

Overall, what does marketing allow us to do?

• Stop buying online

• Live our daily lives

• Feel better about shopping

• Limit our spending

According to the marketing concept, which option demonstrates customer orientation?

• Convincing a buyer to buy

• Researching a firm’s competitors

• Finding out what a buyer wants

• Advertising the features of a product

In the marketing concept, whose point of view matters most?

• Seller’s

• Buyer’s

• Marketer’s

• Planner’s

Which of the following activities is an aspect of marketing a service?

• Finding out customers’ favorite coffee flavors

• Determining how much to charge for a haircut

• Developing a new, improved cell phone

• Advertising the state of Michigan on television

In an overall sense, where does marketing occur?

• Wherever advertisements are

• Wherever stores are

• Wherever businesses are

• Wherever customers are

Which of the following is an example of communicating with customers?

• Creating a new product

• Sponsoring a charity event

• Choosing a store to distribute products

• Developing a marketing plan

Which of the following is a method used to communicate with customers?

• Personal selling

• Manufacturing

• Customer orientation

• Marketing concept

Which of the following influences the process of determining price?

• Customers’ perception of value

• Publicity

• Purchase location

• Sales promotion

What provides the basis for all marketing goals and actions?

• Pricing

• Planning

• Budgeting

• Retailing