Essentials of Marketing I - Chapter 1 Test Review

The function of Distribution in marketing is:

• To create demand for a product

• To deliver products to consumers

• To set the price of a product

• To design the product

Which marketing function involves managing funds needed to operate and promote businesses?

• Advertising

• Public Relations

• Finance

• Sales

Marketing Information Management involves:

• Collecting and analyzing data about customers and market trends

• Designing marketing campaigns

• Managing financial accounts

• Developing new products

The function of marketing that involves setting a price that matches customer demand while ensuring profit is:

• Product Development

• Pricing

• Promotion

• Distribution

What is the role of Product/Service Management in marketing?

• To manage the production process

• To oversee the financial aspects

• To ensure the product meets customer needs

• To handle the company's legal matters

Which marketing function involves communicating and showing products to potential customers?

• Product Development

• Market Research

• Promotion

• Sales

The function of Selling in marketing is:

• To create awareness about a product

• To distribute products to retailers

• To persuade customers to purchase a product

• To conduct market research

Form Utility in marketing refers to:

• The process of making a product available at a location where it is needed

• The process of making a product available at a time when it is needed

• The process of increasing the attractiveness of a product to a group of consumers by altering its physical appearance

• The process of making a product available in a form that is more useful to consumers

Which utility of marketing involves making the product available where customers want to buy it?

• Form Utility

• Place Utility

• Time Utility

• Possession Utility

What does Time Utility ensure in marketing?

• Ensures products are available when customers need them

• Ensures products are of high quality

• Ensures products are affordable

• Ensures products are unique