CHAPTER 1 MARKETING

1. Which of the following is a function of marketing?

• 1. Sourcing ingredients from suppliers

• 1. Developing packaging

• 2. Ensuring a product meets legal standards

• 2. Training the sales force

1. The term “marketing management” is associated with ______.

• 1. marketers’ responsibilities with management issues such as legal and profitability

• 2. government bureaucracy

• 2. running a farmers’ market

• 1. the hierarchy in the marketing department

1. The term “marketing” is related to the concept of the “market” because ______.

• 1. 1. all of the activities that occur in a market are related to the practice of marketing

• 1. markets today are completely different from the marketplaces of old

• 1. advertising is the foundation of any market

• 1. both describe physical places where the exchange takes place

1. One of the biggest changes in the role of marketing in recent years has been ______.

• 1. 1. the increased consciousness of the impact marketing activities have on society

• 1. the need to develop new products

• 1. a decline in radio listener ship for advertisers

• 1. the proliferation of legal issues

1. From a marketing perspective, farmers’ markets ______.

• 1. are usually not permanent

• 1. do not differ substantially from other kinds of markets

• 1. are not real markets because they only sell only vegetables and fruit

• 1. have no legal restrictions

1. “Value” always refers to ______.

• 1. the exchangeable worth of something

• 1. getting a good deal on something

• 1. the consistent worth of something

• 1. how much something costs

1. “Value” always refers to ______.

• 1. the exchangeable worth of something

• 1. getting a good deal on something

• 1. the consistent worth of something

• 1. how much something costs

1. An exchange requires ______.

• 1. a physical product

• 1. a physical place

• 1. one person getting a better deal than the other

• 1. two or more parties

1. In an exchange of value, the “worth” of something is ______.

• 1. determined by the government

• 1. determined by the seller

• 1. agreed to by both parties

• 1. not important

1. A charitable organization ______.

• 1. is only interested in collecting money

• 1. offers no value in exchange for a donation

• is an example of an exchange where there is no physical product or service