Marketing -- Chapters 2 -3: Question Preview (ID: 20356)


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The marketing function that is also referred to as marketing research is
a) channel management
b) product/service management
c) marketing-information management
d) market planning

Which of the following is not one of the uses of money?
a) medium of exchange
b) unit of value
c) way to record expenses
d) store of wealth

Which is an example of place utility?
a) a furniture store provides delivery
b) a furniture store has weekend hours for its big sale
c) a furniture store's advertising explains the different kinds of upholstery
d) a furniture store offers credit to its customers

Exchange is the basis of
a) the four business functions
b) business ownership
c) needs and wants
d) business

The owners of a corporation are called
a) a legal entity
b) share holders
c) partners
d) proprietors

A coffee shop decides to open at 5 am to accommodate early commuters. Which type of utility is it providing?
a) form
b) information
c) possession
d) time

The role of marketing is to
a) sell as much as possible
b) focus on the customer
c) organize the functions of business
d) provide financing for advertising

A nonprofit corporation can make a profit, but the profit it makes
a) goes to support the nonprofit goal
b) goes to its stakeholders
c) is paid to the government as taxes
d) is paid to the staff

The marketing concept says that a business should balance customer satisfaction with
a) adding utility to products
b) providing exceptional customer service
c) learning about their customers
d) making a profit

A store provides demonstrations on how to use a new kitchen appliance. Which type of utility is it providing?
a) form
b) information
c) possession
d) time

The pricing function supports the marketing concept by
a) marking products with easy-to-remove stickers
b) considering what customers are willing and able to pay
c) helping customers finance their purchases
d) raising the prices of products when people have a particular need for them

The three forms of business ownership are
a) product, price, promotion
b) production, management, and marketing
c) sole proprietorship, partnership, corporation
d) stockholder, partner, and proprietor

The main responsibility of accounting is to
a) hire new people
b) keep track of all money that enters and leaves the business
c) follow up on customer satisfaction
d) keep track of the tasks that each employee performs

A store offers charge cards and layaway plans. Which type of utility is it providing?
a) form
b) information
c) possession
d) time

The management function of a business can be described as
a) leadership and supervision
b) product innovation
c) manufacturing and service
d) promotion and sales

The promotion and selling functions provide which utility to products?
a) form
b) information
c) possession
d) time

All of the following utilities are provided by the marketing function of business except
a) form
b) information
c) possession
d) time

Which is an example of form utility?
a) an auto showroom is located near a busy shopping center
b) a car dealership is open in the evenings
c) a factory turns steal, plastic, and glass into a car
d) a car dealership helps a customer obtain a loan

The marketing function that specializes in developing goods and services is called
a) pricing
b) product/service management
c) selling
d) market planning

The selling function supports the marketing concept by
a) making sure products are made in a cost-effective way
b) communicating personally with customers
c) developing advertising that meets customer needs and wants
d) making the product available at convenient locations

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