Marketing Vocab Quiz #1

What is the definition of 'Advertising'?

• The people who buy goods and services

• The edge achieved by businesses that offer something better than their competitors

• Any paid form of nonpersonal presentation of ideas, goods, or services

• Tangible items that should last a long time

Which term describes the edge achieved by businesses that offer something better than their competitors?

• Competitive advantage

• Marketing concept

• Publicity

• Sales promotion

Who are considered 'Customers' in a business context?

• The people who buy goods and services

• The people who make or provide goods and services

• Tangible items that are consumed within a short time

• Intangible activities that are performed by other people for money

What are 'Durable goods'?

• The system in which people make and spend their incomes

• Tangible items that are consumed within a short time

• Intangible activities that are performed by other people for money

• Tangible items that should last a long time

What does the term 'Economy' refer to?

• The general conditions in which people live

• A philosophy of conducting business that is based on satisfying customer wants and needs

• The system in which people make and spend their incomes

• Any nonpersonal presentation of ideas, goods, or services that is not paid for

Which of the following is a 'Feature' of a product?

• The place where a product is sold

• The promotional activities used to sell a product

• The price at which a product is sold

• A fact about or characteristic of a product

What are 'Goods' in the context of marketing?

• The people who make or provide goods and services

• The people who buy goods and services

• Intangible activities that are performed by other people for money

• Tangible objects that can be manufactured or produced for resale

What is the 'Marketing concept'?

• Promotional activities that stimulate customer purchases

• Any paid form of nonpersonal presentation of ideas, goods, or services

• A philosophy of conducting business that is based on satisfying customer wants and needs while achieving company goals

• The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings

What are 'Nondurable goods'?

• Tangible items that are consumed within a short time

• Tangible items that should last a long time

• The system in which people make and spend their incomes

• Intangible activities that are performed by other people for money

What is 'Personal selling'?

• Any paid form of nonpersonal presentation of ideas, goods, or services

• Promotional activities that stimulate customer purchases

• Any nonpersonal presentation of ideas, goods, or services that is not paid for

• The form of promotion that determines client needs and wants and responds through planned, personalized communication