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Marketing Test 1 Review

Total questions: 30

Worksheet time: 16mins

Name
Class
Date
1.

Something a person must have to survive.

a)

iPhone X

b)

Need

c)

Service

d)

Want

2.
3 Economic Resources are
a)
Natural, human, technical
b)
Natural, human, capital
c)
Natural, human, environmental
d)
Natural, human, coinage
3.

These can be physically weighed or measured or touched

a)

Services

b)

Resources

c)

Consumer

d)

Goods

4.

All of the following is a need EXCEPT

a)

a good education

b)

food

c)

water

d)

jewelry

5.

A producer is some one who

a)

sells products

b)

is very creative

c)

make things

d)

employs other

6.

A business is an organization that offers goods and services.

a)

True

b)

False

7.

_________________use goods and services.

a)

Customers

b)

Consumers

c)

Businesses

8.

The difference between the amount earned and the amount spent in buying, operating, or producing something.

a)

Service

b)

Goods

c)

Profit

d)

Profit motive

9.

Things that are not necessary for our survival but add pleasure and comfort to our lives such as TVs, candy bars, jewelry.

a)

Needs

b)

Wants

c)

Goods

d)

Services

10.
Which answer below is one of the 4 P's of Marketing
a)

Place

b)
Process
c)
Plan
d)
Pay
11.

An action or work performed for monetary compensation is...

a)

a service

b)

goods

c)

a payment

d)

a loan

12.

The most update in the Marketing Evolution stage ...

a)

Human-Centric

b)

Consumer-Centric

c)

Digital Centric

d)

Marketing in Digital World

13.
__________ segmentation divides markets into physical locations, such as Eastern, Northern, Southern, and Western regions of the United States.
a)
Geographic
b)
Demographic
c)
Psychographic
d)
Behavioral Based
14.
Which of the following is NOT an example of a market segment
a)
Seniors at a four-year high school
b)
Students at a university who purchase season football tickets
c)
All adults in the United States
d)
Female NFL Fans
15.
Today’s consumers
a)
have more choices for their discretionary income
b)
consider benefits derived when making purchases
c)
all the above
16.
About _______ of every dollar that consumers spend on products pays for marketing costs
a)
50%
b)
75%
c)
100%
d)
25%
17.
The bottom line for maintaining successful marketing relationships is _________.
a)
Profitability
b)
Customer Satisfaction
c)
Clever Promotion
d)
Healthy Competition
18.
​The value of the next best alternative you pass up when making a choice is called _______ ________.
a)
Breakeven Point
b)
Sunk Cost
c)
Productivity
d)
Opportunity Cost
19.
__________ include the age range, marital status, gender, and income level of individuals in a group.
a)
Demographics
b)
Geographic's
c)
Selling
d)
Marketing Mix
20.
The __________ is what a business offers customers to satisfy needs.
a)
Price
b)
Product
c)
Place
d)
Promotion
21.
__________ is the means of making customers aware of products and encourages them to buy.
a)
Price
b)
Product
c)
Place
d)
Promotion
22.
All of the following are forms of promotion EXCEPT
a)
television commercials
b)
newspaper advertisements
c)
government regulations
d)
in-stadium advertising
23.
The marketing concept
a)
Focuses attention on satisfying customer needs
b)
Focuses attention on maximizing profit
c)
Focuses attention on getting the employees rich
d)
None of the above
24.
The marketing concept requires the maintenance of important relationships with customers.
a)
True
b)
False
25.
Customer needs should be the primary focus of marketing.
a)
True
b)
False
26.
Marketing is the creation and maintenance of
a)
Sales
b)
Satisfying exchange relationships
c)
Favorable Images
d)
Financial Resources
27.
A limited amount of resources needed to produce and distribute goods and services
a)
Scarcity
b)
Economics
c)
Capital
d)
Opportunity Cost
28.
The amount of money remaining from income after all expenses are paid
a)
Loss
b)
Profit
c)
Budget
d)
Expense
29.
The possibility of financial gain or loss or personal injury
a)
Risk
b)
Loss
c)
Gain
d)
Integrity
30.
What are the 4 P's of Marketing
a)
Price, Product, Place, Preseason
b)
Price, Product, Place, Partnership
c)
Price, Product, Place, Promotion
d)
Partnership, Product, Place, Promotion

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