vocabulary
EQ's
Key Concepts
Vocabulary 2
EQ's 2
100
Blending of the four marketing elements (product, distribution ,price ,and promotion) by the business
Marketing
100
Name three types of businesses whose activities are devoted almost entirely to marketing.
a. finance and credit fi rms b. telemarketers c. travel agencies d. all of the above
100
In which business function are consumers most likely to be involved?
a. production b. accounting c. marketing d. operations
100
Exchanging products or services with others by agreeing on their value
Price
100
What kind of relationships exist when marketing is successful?
a. money b.
200
The actual amount customers pay and methods of increasing the value of the product to the customers
Specialization of labor
200
Which of the nine marketing functions occurs when a product is developed and sold?
a. Selling b. channel mangement c. pricing d. promotion
200
Exchanging products or services with others by agreeing on their values is known as
a. specialization of labor b. marketing c. developing a money system d. bartering
200
The business function that creates or obtains products or services for sale
Employee empowerment
300
An approach to customer service that gives employees the authority to solve many customer problems
merchandise
300
Why does a business need marketing if it has a good product or service?
a. customer does not know about the product b. they dont need marketing c. just for fun d. fot money
300
The ongoing activities designed to sup port the primary function of a business and to keep a business operating effi ciently are known as
a. operations b. management c. accounting and fi nance d. merchandising
300
The creation and maintenance of satisfying exchange relationships
Accounting and finance
400
The business function that plans and manages financial resources and maintains records and information related to a business's finances
Self-sufficient
400
How can the lack of coordination among the business functions affect a company?
a.Products are produced that cannot be sold b.Marketing activities are planned without considering costs c.Managers concentrate on specific activities without considering if their decisions may have negative effects on other functions d.all of the above
400
Marketing involves which of the following
a. advertising b. transporting products c. taking surveys d. all of the above
400
The ongoing activities designed to support the primary functions of a business and keep it operating efficiently
Operations
500
The use of currency as a recognized medium of exchange
Relationship Marketing
500
What four marketing elements make up the marketing mix?
a. distribution b. services c. manegment d. none of the above
500
A business with a limited marketing role is
a. a retailer b. a farmer or rancher c. a physician’s offi ce d. none of the above has a limited marketing role
500
Involves developing, implementing ,and evaluating the plans and activities of a business
Bartering
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