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Vocabulary
Vocabulary
EQ's
EQ'S
End of Chapter Assessment
100
Anything offered to a market by the business to satisfy needs, including physical products, services, and ideas.
What is product?
100
Exchanging products or service with others by agreeing on their values.
What is bartering?
100
What type of business's activites are devoted mostly to marketing? A.) retailers B.) advertising agencies C.) universities D.) banks
What is B.) advertising agencies?
100
Why does a business need good marekting if it has a good product or service? A.) To provide satisfying exchanges of prodcuts and services with customers. B.) To provide bad quality and have no friendly relationships with the customers. C.) To not provide what the customer wants. D.) To not let the customer know where the product can be purchased.
What is A.) To provide satisfying exchanges of products and services with customers?
100
Relationship marketing is good for a business because it? A.) Reduces cost B.) Increases profits C.) Develops long-term customers who continue to purchase from the company. D.) All of the above
What is C.) Develops long-term customers who continue to purchase from the company?
200
It is the amount that customers pay and the methods of increasing the value of the product to the customers.
What is price?
200
You do not rely on others for the things you need to survive.
What is self-sufficient?
200
Which of the following marketing functions occurs when a product is developed and sold? A.) Marketing-Information Management B.) Market Planning C.) Product and Service Management D.) Selling
What is C.) Product and Service Management and D.) Selling
200
How did the development of central markets aid in the growth of business? A.) Priced the products more. B.) Decreased earnings for the market. C.) Helped the customers at locating and gatghering the things they needed and wanted. D.) Was inconvenient for customers to exchange.
What is C.) Helped the customers at locating and gatghering the things they needed and wanted?
200
Which business function are customers most likely involved in? A.) Production B.) Accounting C.) Marketing D.) Operations
What is C.) Marketing?
300
The creation and maintenance of satisfying exchange relationships.
What is marketing?
300
A location where people bring products to be conveniently exchanged.
What is central market?
300
What four marketing elements make up the marketing mix? A.) Selling B.) Distribution C.) Planning D.) Market
What is B.) Distribution?
300
How can the lack of coordination among the business functions affect a company? A.) Can make the company ineffective. B.) Can maintain adequate records. C.) The products will be sold at a profit. D.) Customers will be happy
What is A.) Can make the company ineffective?
300
What ongoing activities are designed to support the primary function of a business and to keep a business operating efficiently? A.) Operations B.) Management C.) Accounting and Finance D.) Merchandising
What is A.) Operations?
400
Functions plans and manages financial resources and maintains records and information related to a business's finances.
What is accounting and finance?
400
The ongoing activities desgined to support the primary function of a business and keep it operating efficiently.
What is operations?
400
What are the four major emphases in the development of marketing's role in business since 1900? A.) Planning Emphasis B.) Sales Emphasis C.) Marketing Pricing Emphasis D.) Promotion Emphasis
What is B.) Sales Emphasis?
400
Under the marketing concept, what is a business’s primary focus during planning, production, pricing, distribution, and promotion of a product? A.) Sell products B.) Plan C.) Distribute D.) Using the needs of customers.
What is D.) Using the needs of customers?
400
What is used as the needs for customers as the primary focus during the planning, production, pricing, distribution, and promotion of a product or service? A.) Marketing mix B.) Marketing concept C.) Marketing philosophy D.) Marketing approach
What is the B.) Marketing concept?
500
Using the needs of customers as the primary focus during the planning, production, pricing, distribution, and promotion of a product or service.
What is marketing concept?
500
Involves developing, implementing, and evaluating the plans and activities of a business.
What is management?
500
What kinds of relationships exist when marketing is successful? A.) Satisfying B.) Inconvenient C.) Unsafe D.) Discomfort
What is A.) Satisfying?
500
Why is marketing ultimately important to every business and organization? A.) To not serve customers any better. B.) It can increase customer satisfaction. C.) Make business's become less profitable. D.) It does not provide helpful information to customers about market research.
What is B.) It can increase customer satisfaction?
500
What is an approach to customer service that gives employees the authority to solve many customer problems? A.) The marketing concept B.) Relationship marketing C.) Employee empowerment D.) Social responsibility
What is C.) Employee empowerment?