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


Marketing Principles. TEACHERS: click here for quick copy question ID numbers.

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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