When you buy an ice cream cone or a digital camera, you are involved in marketing.

Each of the nine marketing functions occurs every time a product or service is developed and sold.

The primary reason for a business to exist is to provide employment for people.

Businesses that do not use the marketing concept are more concerned about producing products than understanding customers needs.

A company that relies on promotion with brochures, advertisements, and public service announcements probably has NOT adopted the marketing concept.

Which of the following businesses is directly involved in marketing?

This marketing function provides security for products, personnel, and customers.

Exchanging products or services with others by agreeing on their values is known as

A location where people bring products to be conveniently exchanged is a

Which business function involves developing, implementing, and evaluating the plans and activities of a business?

The first step of the marketing concept is to

An approach to customer service that gives employees the authority to solve many customer problems is called

FrostWhip budgets 45% of its total expenses for marketing. Total expenses for the company this year is $550,000. What is the dollar amount FrostyWhip has budgeted for marketing?

A company is considering a marketing mix. It projects it can sell 10,000 units at a price of $25.00 per unit with a total cost of $198,000. What is the projected profit?

The __ function determines the best way to help customers locate, obtain, and use an organization's products and services.

The __ function establishes and communicates the value of products and services to prospective customers.

__ is the creation and maintenance of satisfying exchange relationships.

Being self-____ means you do not rely on others for the things you need to survive.

A __ system established the use of currency as a recognized medium of exchange.

Offering products produced or manufactured by others for sale to customers is known as

Using high-profile entertainment or news to get people to talk about your brand is called ___ marketing.

A ___ is a description of a unique group of prospective customers a business wants to serve and their location.

In the Production Era, business's only marketing effort was devoted to ___.

__ marketing focuses on developing loyal customers who continue to purchase from the business for a long period of time.

Concentrating efforst on one or a few related activities so they can be done well.

Using the needs of customers as the primary focus during planning, production, pricing, distribution, & promotion.

Which of the following is NOT one of the four P's of marketing? (The marketing mix)

Distribution, or _, includes the locations & methods used to make product available to customer

the amount that customers pay & the method of increasing the value of a product to customers.