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fob chapter

Total questions: 37

Worksheet time: 19mins

Name
Class
Date
1.
What is marketing?
a)
The four basic marketing strategies, called the four Ps:  product, place, price, and promotion
b)
the process of planning, pricing, promoting, selling, and distributing products to satisfy customers' needs and wants
2.
What is a good? 
a)
Tangible items that have monetary value and satisfy your needs and wants
b)
Intangible items that have monetary value and satisfy your needs and wants
3.
What is a service?  
a)
Tangible items that have monetary value and satisfy your needs and wants
b)
Intangible items that have monetary value and satisfy your needs and wants
4.
What is a marketing concept?
a)
Understanding the economic principles and concepts that are basic to marketing
b)
Idea that a business should strive to satisfy customer's needs and wants while generating a profit for the firm
5.
What is a market?  
a)
All people who share similar needs and wants and who have the ability to purchase a given product
b)
the process of planning, pricing, promoting, selling, and distributing products to satisfy customers' needs and wants
6.
Industrial market is that includes all businesses that buy products for use in their operations
a)
True
b)
False
7.
Media are the agencies, means, or instruments used to convey advertising messages to the public
a)
False
b)
True
8.
Product, price, promotion, and place is called the....
a)
Marketing Mix
b)
Mix Marketing
c)
The Four Ps
9.
Market research is when you research the market to see what the consumer wants and needs.  
a)
True
b)
False
10.

Which of the following is NOT included in 4 P's of Marketing?

a)

Promotion

b)

Products

c)

Place

d)

Peace

11.

_________ are the form human needs take as they are shaped by culture and individual personality.

a)

Wants

b)

Needs

c)

Demands

d)

Performance

12.

_______ are human wants that are backed by buying power.

a)

Needs

b)

Wants

c)

Demands

d)

Market offerings

13.

_________ are a combination of products, services, and experiences offered to a market to satisfy a need or want.

a)

Market

b)

Marketing offerings

c)

Exchange

d)

Value and Satisfaction

14.

___________ are the acts of obtaining a desire object from someone by offering something in return.

a)

Exchange

b)

Market

c)

Production

d)

Advertisement

15.

_________ is the set of all actual and potential buyers of a product or service.

a)

Market

b)

Product

c)

Exchange

d)

Needs

16.

Which of the following is ONE of the 5 alternative concepts that companies use to carry out their marketing strategy?

a)

Societal Marketing Concept

b)

Placement Concept

c)

Marketing Strategy

d)

Customer Satisfaction

17.

Products has 2 under category which is Tangible and ___________

a)

Intangible

b)

Promotion

c)

Place

d)

Price

18.

The idea that consumers will not buy enough of the firm's product, unless it undertakes a large-scale selling and promotion effort.

a)

Production Concept

b)

Product Concept

c)

Selling Concept

d)

Marketing Concept

19.

The idea that achieving organizational goals depends on knowing the needs, and wants of target market and delivering the desired satisfactions better than competitors do.

a)

Production Concept

b)

Product Concept

c)

Societal Marketing Concept

d)

Marketing Concept

20.

The idea that achieving organizational goals depends on knowing the needs, and wants of target market and delivering the desired satisfactions better than competitors do.

a)

Production Concept

b)

Product Concept

c)

Societal Marketing Concept

d)

Marketing Concept

21.

This refers as the center of everything marketing does.

a)

Marketing

b)

Needs

c)

Consumer

d)

Value

22.

This refers to something you must have for survival.

a)

Wants

b)

Needs

c)

Product

d)

Service

23.

What is the first name of Mr. Maslow?

a)

Allan

b)

Alfred

c)

Abraham

d)

Alexander

24.

These refer to basic physical needs like drinking when thirsty or eating when hungry.

a)

Physiological Need

b)

Safety Need

c)

Love and Belonging Need

d)

Self-Actualization Need

25.

This is simply getting the product into the hands of the customer.

a)

Creating

b)

Communicating

c)

Delivering

d)

Exchanging

26.

This refers to feeling fulfilled, or feeling that we are living up to our potential.

a)

Love and Belonging Need

b)

Self-Actualization Need

c)

Safety Need

d)

Esteem Need

27.

Choose the concept to the following definition:

It consists of the actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers.

a)

Microenvironment

b)

Macroenvironment

c)

Marketing Environment

28.

Which of the following is a force that does NOT affect the Microenvironment?

a)

The company

b)

The Suppliers and Intermediaries

c)

Customers

d)

The economic environment

29.

The actors close to the company that affect its ability to serve the customers are part of

a)

the Microenvironment

b)

the Macroenvironment

30.

Larger societal forces such as demographic, economic, natural, political, and others that affect marketing management's decisions are part of

a)

the Microenvironment

b)

the Macroenvironment

31.

Choose the concept for the following definition:

The internal environment is conformed by departments or areas such as finance, human resources, accounting, purchasing, and the top management, which share the responsibility for understanding customer needs and creating customer value.

a)

The Company

b)

The Suppliers

c)

The Customers

d)

The Competitors

32.

Firms that provide the resources needed by the company to produce goods or offer services are

a)

the company

b)

the suppliers

c)

the competitors

33.

Firms that help the company to promote, sell, and distribute the products to the final customers or buyers.

a)

the competitors

b)

the Intermediaries

c)

the publics

34.

Firms that share similar or the same activity as our main activity in the company are

a)

the intermediaries

b)

the suppliers

c)

the competitors

35.

Individuals and households who buy goods or services for personal consumption are

a)

the customers

b)

the suppliers

c)

the intermediaries

36.

Any group that has an interest or impact in the organization's ability to achieve the objectives are

a)

the suppliers

b)

the intermediaries

c)

the competitors

d)

the publics

37.

Financial publics are:

a)

banks and stockholders

b)

householders and customers