Marketing 1 Semester 1 Final Exam - Unit Marketing Foundations

The idea that businesses should focus on meeting the needs of customers while achieving company goals is called the _____________________. (2.3)

• Marketing Concept

• 7 Core Functions of Marketing

• The Definition of Marketing

• Economic Utility

Charlotte owns a small bakery and wants her business to succeed in the long run. What should be her primary goal in marketing?

• Create value for customers to attract and retain them

• Sell all products to all customers

• Produce products for customers to buy

• Create an efficient and productive work environment

Which of the following is NOT one of the traditional four P’s of marketing?

• Product

• Price

• Profit

• Promotion

What are the four P’s of marketing known as? (2.3)

• Marketing Mix

• Consumer Mix

• Promotional Mix

• Brand Mix

What aspect of the marketing mix describes a company’s strategy to inform, persuade, and remind customers about its brand?

• Promotion

• Power

• Price

• Product

Pepsi is introducing a limited edition drink. The marketing team is deciding how much customers should pay for it. Which of the four Ps are they focusing on?

• Place

• Product

• Price

• Promotion

The Tempe Potteryware company decided to sell its coffee mugs in local coffee shops. What type of marketing decision was this?

• Place

• Product

• Promotion

• Price

What is the term for the systematic process of collecting, analyzing, and interpreting data about a market to help make marketing decisions?

• Market research

• Marketing mix

• Marketing functions

• Market segmentation

What term describes an item or service provided by a company to fulfill customer wants or needs?

• Place

• Product

• Price

• Promotion

What are the functions of marketing?

• Distribution

• Selling

• Marketing information management

• All of the choices are correct.