Ch. 10 - Marketing Exam Review

Marketing can be defined as:

• creating, communicating and delivering value to customers
• Advertising a product in order to same more time and money in the long run
• Selling things, such as food, water, air, clothes and other essential needs at the market
• None of the above

This marketing function involves setting the value of products and services

• Distribution
• Promotion
• Pricing
• Financial Analysis

Markup Price formula is: SELLING PRICE = COST + MARKUP

• True
• False

A company sells a backpack for $50. The cost to make the backpack is $30. What is the markup?

• A) $20
• B) $30
• C) $50
• D) $80

If the cost is 4900 and the selling price is $5,600, what will be the markup cost?

• 400
• 700
• 950
• None of the above

A marketing plan that uses Brittany Spears

• Person Marketing
• Place Marketing
• Event marketing
• Organization marketing

A marketing plan for the Bud Biliken Day Parade

• Person Marketing
• Place Marketing
• Event marketing
• Organization marketing

A marketing plan to promote Wisconsin Dells

• Person Marketing
• Place Marketing
• Event marketing
• Organization marketing

A marketing plan for a United Way fundraiser

• Person Marketing
• Place Marketing
• Event marketing
• Organization marketing

Type of research in which a small group and a moderator discuss their opinions about a product

• target market
• focus group
• survey
• observation