What are the 4 Ps of marketing?

• Product, Price, Place, Promotion

• People, Process, Physical evidence, Planning

• Production, Profit, Publicity, Packaging

Which of the following best defines entrepreneurship?

• The process of buying products for personal use

• The process of starting and running a new business to make a profit

• The process of advertising a product

Which of the following is NOT one of the 7 marketing functions?

• Financing

• Manufacturing

• Promotion

A resume should always include which of the following?

• Hobbies only

• Contact information, education, and work experience

• Favorite movies

Which of the following is an example of a consumer need?

• Designer shoes

• Clean water

• Video games

Which statement best describes business competition?

• Businesses working together to set prices

• Businesses striving to attract customers and increase sales over rivals

• Businesses ignoring each other’s actions

Which of the following is a primary goal of marketing management?

• To increase production costs

• To satisfy customer needs and achieve organizational goals

• To reduce employee benefits

What is the main difference between a need and a want?

• Needs are optional, wants are essential

• Needs are essential for survival, wants are not

• Wants are always more expensive than needs

Which of the following best describes the concept of "Place" in the 4 Ps?

• The physical location of the business headquarters

• The method of getting the product to the consumer

• The price at which the product is sold

A company notices that its customers are buying more eco-friendly products. Which marketing function is most directly involved in responding to this trend?

• Product/Service Management

• Financing

• Selling