How does marketing help businesses?

• By reducing costs

• By finding customers and selling products profitably

• By increasing employee satisfaction

• By improving product quality

What is the ultimate goal of marketing according to the text?

• To increase production

• To create successful products

• To reduce costs

• To expand globally

Which component of the marketing mix is concerned with setting a monetary amount?

• Product

• Price

• Promotion

• Place

Which type of distribution involves goods/services sold directly from producer to customer?

• Indirect distribution

• Direct distribution

• Wholesale distribution

• Retail distribution

What is the primary goal of determining the break-even point?

• To increase production costs

• To understand when revenues will cover costs

• To enhance product design

• To decide the product's color

What is one of the primary roles of marketing according to the text?

• To create consumer need

• To increase production costs

• To reduce product quality

• To eliminate competition

Which of the following is NOT a part of the marketing concept?

• Planning

• Production

• Ignoring customer feedback

• Promotion

What is a challenge mentioned for businesses using just advertising?

• It is too cheap

• It is expensive and difficult

• It is too effective

• It is unnecessary

What is the primary purpose of marketing strategies for businesses?

• To reduce costs

• To have a vision to reach goals and objectives

• To hire more employees

• To create new products

What type of plan is a marketing strategy described as?

• A financial plan

• A hiring plan

• An action plan

• A retirement plan