Principles of Business Ch. 10 Review

Front

Which marketing function involves communicating directly with potential customers to determine their needs?

Back

selling

Front

What is gross margin?

Back

difference between the selling price and the product costs

Front

One function of promotion is

Back

advertising

Front

Additions and improvements to a basic product are called

Back

product features

Front

A key difference between advertising and publicity is that advertising is paid communication and publicity is non-paid.

Back

True

Front

Which is NOT considered a marketing function? Options: pricing, repairing, promotion, selling

Back

repairing

Front

What are the four elements of a marketing mix?

Back

product, distribution, price, and promotion

Front

What is the first step in the consumer decision-making process?

Back

recognize a need

Front

Services are intangible, which means

Back

they have no physical form

Front

Finding solutions to problems through carefully designed studies involving consumers is called marketing ________.

Back

research