Marketing Unit 1

The process of identifying existing or potential customers as B2C or B2B customers is ____.

• market identification

• channel management

• market targeting

• product management

which of the following decisions is included in promoting a product?

• determining where to locate manufacturing plants and stores

• how to inform people about the product and where to buy it

• planning the shipping and warehousing of the product

• determining whether to offer a good, service, or idea

which of the following is not a benefit of marketing?

• stimulating competition

• increasing people’s needs

• educating consumers

• improving the economy

by persuading people to buy goods and services marketing____.

• increases the prices of products sold

• decreases the number of goods and services available

• reduce competition for the goods and services

• creates a positive cycle of economic growth

which sentence identify the correct relationship between advertising and marketing?

• advertising and marketing are the same

• advertising is one aspect of marketing

• marketing is one aspect of advertising

• advertising and marketing are entirely different concepts

A plan for using product price place in promotion to market a specific product or group of products is its ____.

• marketing concept

• marketing information management

• promotional mix

• marketing mix

The four p’s of marketing include_____.

• profit, product, promotion, and place

• product, price, place, and promotion

• Price, profession, product, and place

• personal, product, place, and price

which of the following statements about marketing is not true?

• maintaining relationships with customers is a good business practice

• marketing involves building a relationship between buyers and sellers

• it is more costly to keep a current customer, then to retract a new one

• long-term relationships result in customers who are loyal to the business

A companies profit is the _____ during a specific time period.

• total number of sales, including returns

• total income earned by sales

• difference between income earned and expenses incurred

• amount of money that company charges for each product

which of the following is an example of a good?

• Athletic shoes

• tax preparation

• lawn care

• manicure