Marketing Principles Ch. 1: Question Preview (ID: 10203)


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The process of planning, pricing, promoting, selling and distributing ideas, goods and services to create exchanges that satisfy customers.
a) Information Management b) Business c) Marketing d) Economics
Tangible items that have monetary value and satisfy needs.
a) Goods b) Services c) Wants d) Needs
Intangible items that have monetary value and satisfy your needs and wants.
a) Goods b) Services c) Wants d) Needs
Added value in economic terms is called ___________.
a) Marketing b) Bonuses c) Features d) Utility
All people who share similar needs and wants and who have the ability to purchase a given product are called a __________.
a) Purchase Group b) Target Customer c) Market d) Consumer
The percentage of the total sales volume generated by all companies that compete in a given market.
a) Product Comparison b) Business Competition c) Market Alignment d) Market Share
The group that is identified for a specific marketing program is the ____________.
a) Target Market b) Consumer Base c) Customer Profile d) Target Customer
The _____________ includes four basic marketing strategies called the four P's, Product, Price, Place and Promotion.
a) Marketing Concept b) Marketing Principles c) Marketing Essentials d) Marketing Mix
Consists of consumers who purchase goods and services for personal use.
a) Industrial Market b) Consumer Market c) Target Market d) Marketing Strategy
Business-to-Business market includes all businesses that buy products for use in their operations.
a) Industrial Market b) Consumer Market c) Target Market d) Professional Marketing
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