Unit 1 Review

Which of the following is a marketing activity:

• Leading a project team

• Communicating with customers

• Lowering operational expenses

• Balancing customer needs and wants

Which of the following influences the process of determining price:

• Customers' perception of value

• Publicity

• Purchase location

• Sales Promotion

Which of the following is an example of communicating with customers:

• Creating a new product

• Sponsoring a charity event

• Choosing a store to distribute products

• Developing a marketing plan

In an overall sense, where does marketing occur?

• Wherever advertisements are

• Wherever stores are

• Wherever businesses are

• Wherever customers are

Which of the following activities is an aspect of marketing a service:

• Finding out customers’ favorite coffee flavors

• Determining how much to charge for a haircut

• Developing a new, improved cell phone

• Advertising the state of Michigan on television

In the marketing concept, whose point of view matters most?

• Seller's

• Customer's

• Marketer's

• Planner's

According to the marketing concept, which option shows company commitment?

• Leaving marketing to the marketing department

• Teaching marketing to college marketing students

• Setting aside funds to research what customers want

• Pricing a product to maximize profitability per item

Overall, what does marketing allow us to do?

• Stop buying online

• Live our daily lives

• Feel better about shopping

• Limit our spending

Marketing encourages people from different countries to __________ frequently.

• travel

• train

• think

• trade

A product being in great demand is a factor that might encourage businesses to

• adjust prices

• decrease inventory

• contact competitors

• gather information