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Unit 1 What's Marketing? - Review #1
Test Description: Review the contents we covered in class while playing a game!
Instructions: Answer all questions to get your test result.
1) What is the concept of place utility in marketing?
A
The affordability of a product
B
The convenience of a product's location for consumers
C
The quality of a product's packaging
D
The usefulness of a product's design
2) Which of the following is an example of place utility?
A
Selling umbrellas outside a subway station on a rainy day
B
Increasing the price of a product
C
Transforming wheat into bread
D
Selling winter coats in the summer
3) According to the AMA, the definition of marketing is
A
Set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value
B
The process of bringing products or services to the market
C
Providing tangible items at a fair value to consumers
D
Set of companies that strive to manufacture goods that are profitable and aim to serve many purposes.
4) Which of the following best describes form utility in marketing?
A
It is the value added by making a product available at a certain time.
B
It is the value added by the creation of tangible goods.
C
It is the value added by making a product available at a certain location.
D
It is taking raw materials and turning them into actual, useful goods.
5) Which of the following is an example of form utility?
A
A supermarket selling groceries
B
Online shopping platform offering delivery options
C
A factory assembling a car from its parts
D
A store selling furniture
6) A one-word definition for utility is
A
Motivation
B
Satisfaction
C
Want
D
Need
7) The malls are open extended hours during the holidays to satisfy what form of utility?
A
Possession
B
Time
C
Form
D
Information
8) Which of the following is an example of time utility in business?
A
A hardware store offering home delivery
B
A grocery store staying open 24/7
C
A bookstore offering a variety of genres
D
A restaurant providing online ordering option
9) The employees of Home Depot are experienced craftspeople who enjoy giving their customers advice about do-it-yourself projects. The employees’ advice increases the _____ of their goods.
A
Form utility
B
Possession utility
C
Information utility
D
Time utility
10) What does the term 'information utility' refer to in the field of Information Technology?
A
The installation of hardware components
B
The use of data to power electronic devices
C
The management of software updates
D
The process of converting raw data into meaningful information
11) Tangible items that have monetary value are
A
Catalogs
B
Channels
C
Services
D
Goods
12) What are goods in the context of economics?
A
An immaterial entity that is sold for money
B
A physical item that is sold for money
C
A digital asset that is sold for money
D
A service that is sold for money
13) The Marketing Concept is broken up into two parts:
A
Desires and Needs
B
Needs and Necessities
C
Desires and Wants
D
Satisfaction and Dissatisfaction
14) Intangible items can be simply described as a…
A
Computer
B
Information
C
Service
D
Goods
15) The value a customer receives from buying a good or service is known as
A
Consequence
B
Utility
C
Market
D
Impact
*select an answer for all questions
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