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Marketing & Business Basics Review

Total questions: 49

Worksheet time: 34mins

Name
Class
Date
1.

What is one or more specific groups of potential customers called?

a)

Target Market

b)

Market Group

c)

Industry

d)

Producers

2.

What is the Marketing Mix?

a)

A mixed group of different markets

b)

One or more specific groups of potential customers

c)

Interrelated activities that must work together to get goods and services from producers to consumers

d)

Price, Product, Promotion and Place

3.

Whats another name for the Marketing Mix?

(a)  

4.

The goal of marketing is to?

a)

reduce prices

b)

meet the customers wants and needs

c)

create employee empowerments

d)

instigate competition

5.

According to the American Marketing Association, marketing is defined as:

a)

The process of promoting and selling products or services

b)

The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

c)

The set of activities involved in identifying and anticipating customer needs

d)

The process of understanding what people eat and buy, and then satisfying those wants and needs through effective management and strategies

6.

A nail salon provides their customers with...

a)

A service

b)

A good

7.

A group of customers a business seeks to attract who have specific, similar needs is referred to as a(n)...

a)

Market research

b)

Marketing mix

c)

Target market

d)

Marketing concept

8.

Satisfying the needs of the customer while generating a profit is called the...

a)

Marketing mix

b)

Functions of marketing

c)

Target market

d)

Marketing concept

9.

Crumbl's cookies are an example of which marketing mix component?

a)

Place

b)

Price

c)

Product

d)

Promotion

10.

A banner announcing Rack Room Shoes' grand opening is what area of the marketing mix...

a)

Product

b)

Place

c)

Promotion

d)

Pricing

11.

Neighborly Books opened their bookstore in Downtown Maryville to gain foot traffic. This component of the marketing mix is...

a)

Product

b)

Place

c)

Price

d)

Promotion

12.

The most successful businesses consider customers' needs as they produce and market their products and services.

a)

True

b)

False

13.

A process in marketing involving a provider, a customer, a product, and a transaction is known as the:

a)

advertising process

b)

value chain

c)

exchange process

14.

1. The 4P’s determine a product’s ______________.

a)

Mass Marketing

b)

Positioning

c)

Marketing Concept

d)

Marketing Mix.

15.

Which of the following best describes the idea of the Marketing Concept?

a)

Customers are not a priority

b)

Business should strive to satisfy a customer’s needs and wants while generating a profit for the business.

c)

Every measure must be taken to please the employees.

d)

None of the above

16.

The customer is the person who _________ and the consumer is the person who ___________.

a)

Uses the product; Purchases the product

b)

Views the product; Listens to the product

c)

Purchases the product; Uses the product

d)

Does not purchase the product; Does not use the product

17.

Tangible items that have monetary value and satisfy consumer’s needs and wants are called _______?

a)

Goods

b)

Ideas

c)

Markets

d)

Services

18.

Which of the following is NOT an example of a service?

a)

Housekeeping Company

b)

Miniature Golf Business

c)

Jewelry

d)

Income Tax Preparers

19.

Obtaining, budgeting, and managing the resources needed to operate a business and develop its products is an example of the ______ function?

a)

Pricing

b)

Distribution

c)

Financial Analysis

d)

Promotion

20.

A retail store employee puts a pair of shoes on a customer and asks the customer if the shoe fits right.

a)

Selling

b)

Distribution

c)

Promotion

d)

Pricing

21.

A retailer decides to mark down the store's selection of swimsuits in August.

a)

Pricing

b)

Promotion

c)

Distribution

d)

Product Service Management

22.

Name that function: Planning ways to cover cost and reach the desired profit margin.

a)

Pricing

b)

Promotion

c)

Selling

d)

Financing

e)

Marketing Information Management

23.

Name that function: Gathering information about what consumers want in order to make informed business decisions.

a)

Financing

b)

Pricing

c)

Distribution

d)

Marketing Information Management

e)

Product Service Management

24.

Name that function: Designing, producing, maintaining, and improving products or services to meet changing needs and wants.

a)

Marketing Information Management

b)

Financing

c)

Pricing

d)

Product/Service Management

e)

Distribution

25.

Name that function: Moving products from the producer to the consumer.

a)

marketing information management

b)

financing

c)

pricing

d)

product service management

e)

distribution

26.

Name that function: Reminding customers about your products through advertising activities such as social media marketing, commercials and billboards.

a)

marketing information management

b)

financing

c)

promotion

d)

product service management

e)

distribution

27.

Name that function: Collecting surveys from college campuses on fashion likes and dislikes.

a)

selling

b)

promotion

c)

product service management

d)

distribution

e)

marketing information management

28.

Name that function: Ending amount charged with .99 to give the illusion of savings while still maintaining profit margins.

a)

Marketing information management

b)

Financing

c)

Pricing

d)

Promotion

e)

Product service management

29.

Name that function: Improving the quality of your shoes based on customer feedback to improve sales and reputation.

a)

Pricing

b)

Promotion

c)

Marketing information management

d)

Product service management

30.
A television commercial stresses the benefits of buying a new protein bar.
a)
Marketing Information Management
b)
Selling
c)
Promotion
d)
Product Management
31.

A ____________________ is meeting a need with words or actions instead of tangible products.

a)

product

b)

service

c)

logo

d)

customer

32.

Set of activities, tactics, actions, and strategies used by businesses to promote their brand, products, and services in the market.

a)

Marketing Mix

b)

Place

c)

Process

d)

People

33.

If a marketer changes one marketing mix element, s/he should expect that the __________ will also change.

a)

strategy

b)

product quality

c)

goal

d)

other elements

34.

Which element of marketing refers to the various types of communication that marketers use to inform, persuade, or remind customers of their products?

a)

Promotion

b)

Place

c)

Price

d)

Product

35.

Diana is deciding how much of a product to order and which firms to involve in the process. She is working on the __________ element of the marketing mix.

a)

promotion

b)

product

c)

price

d)

place

36.

What does the 'Price' element of the Marketing Mix refer to?

a)

The product or service that the company provides

b)

What the consumers pays for in exchange for the product or service

c)

The means of communication used to create awareness and interest

d)

The location of the customers or potential customers

37.

What should the 'Promotion' element of the Marketing Mix include?

a)

The product or service that the company provides

b)

The amount consumers pay for a product or service

c)

The means of communication used to create awareness and interest

d)

The location of the customers or potential customers

38.

Which of the 4P's does this represent: Advertisements in the newspaper

a)

Product

b)

Price

c)

Place

d)

Promotion

39.

Which of the 4P's does this represent: Air Jordans

a)

Product

b)

Price

c)

Place

d)

Promotion

40.

Which of the 4P's does this represent: Discounts

a)

Product

b)

Price

c)

Place

d)

Promotion

41.

Which of the 4P's does this represent: Transportation

a)

Product

b)

Price

c)

Place

d)

Promotion

42.

How many marketing functions are there?

a)

6

b)

7

c)

8

d)

9

43.

This marketing function is all about data, research and analysis

a)

Selling

b)

Promotion

c)

Marketing Planning

d)

Marketing Information Management (MIM)

e)

Pricing

44.

"Click It or Ticket” was a great campaign to enforce the law about wearing seatbelts and the importance of seatbelts. 

a)

Event Marketing

b)

Marketing of Ideas

c)

Marketing of People

d)

Marketing

45.

Services are (a)   (meaning you can’t physically touch them).

46.

Laptops are tangible items that can be bought and used for various tasks. This means it is

a)

A service

b)

Intangible

c)

A good

d)

Your mom

47.

Joe receives a new hat for his birthday from his friend Nate. In this example Nate is a:

a)

consumer

b)

marketer

c)

customer

48.

What does a producer-oriented approach in marketing mean

a)

Studying what people like before making products.

b)

Making new products based on what people say they want.

c)

Making products based on what the company is good at.

d)

Making products based on what is the most affordable

49.

What does a consumer-oriented approach in marketing mean?

a)

Making products without thinking about what people want

b)

Creating products that people need and want.

c)

Focusing only on making products cheaply

d)

Using the company's existing skills to make products.