Which of the following would NOT generally be considered one of the marketing functions?

• Price

• Promotion

• Product

• Repair

This marketing function involves communicating directly with customers to determine their needs.

• Financial Analysis

• Product and Service Management

• Selling

• Pricing

Which of the following is a function of promotion?

• Advertising

• Improving Products

• Budgeting for Marketing Activities

• Market Research

What are the four elements of a marketing mix?

• Cost, location, time, and advertising

• Demographics, income, supply, and demand

• Product, place, price, and promotion

• Consumers, manufacturers, retailers, and distributors

The first step in the consumer decision-making process is to:

• Recognize a need

• Make a purchase decision

• Select and evaluate alternatives

• Gather information

Additions and improvements to a basic product are called:

• Brand Names

• Product Features

• Guarantees

• Warranties

Services are intangible. This means that: - They have no physical form - The availability must match their demand at a specific time - They cost more than products - There will be differences in the quality of service provided

• They have no physical form

• The availability must match their demand at a specific time

• They cost more than products

• There will be differences in the quality of service provided

Product Costs + Operating Expenses + Profit = price

• What is the formula for calculating price?

• What is the formula for calculating profit?

• What is the formula for calculating operating expenses?

• What is the formula for calculating product costs?

Businesses that take part in a channel of distribution are known as:

• Distributors

• Consumers

• Retailers

• Channel Members

Personal selling is usually done:

• On the internet

• By telephone

• Via advertising

• Face-to-face with each customer