Marketing Essentials Kowledge Quiz Questions! Trivia

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| By Byrnsmjr
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Byrnsmjr
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Quizzes Created: 3 | Total Attempts: 2,966
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  • 1/7 Questions

    What are the four P's of the Marketing Mix?

    • People, Place, Promotion, Price
    • Place, Price, Promotion, Product
    • People, Product, Price, Place
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About This Quiz

What do you remember from Chapter 1? This quiz will help you determine what areas you need to study more.
Good Luck!

Marketing Essentials Kowledge Quiz Questions! Trivia - Quiz

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  • 2. 

    What are the two types of markets we discussed in Chapter 1?

    • Consumer and Industrial (Business-to-Business or B-t-B)

    • Retail and Wholesale

    • Business and Government

    Correct Answer
    A. Consumer and Industrial (Business-to-Business or B-t-B)
    Explanation
    The two types of markets discussed in Chapter 1 are consumer markets and industrial markets (also known as Business-to-Business or B-t-B markets). Consumer markets involve the buying and selling of goods and services to individual consumers for personal use. Industrial markets, on the other hand, involve the buying and selling of goods and services between businesses for commercial purposes. This distinction is important as it helps businesses understand the different dynamics and strategies required to cater to these two types of markets.

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  • 3. 

    A consumer and a customer are one in the same?

    • True

    • False

    Correct Answer
    A. False
    Explanation
    The statement "A consumer and a customer are one in the same" is false. While these terms are often used interchangeably, they have slightly different meanings. A consumer refers to an individual who uses or consumes a product or service, whereas a customer refers specifically to someone who purchases or pays for a product or service. Therefore, it is possible for someone to be a consumer without being a customer, such as when they receive a free sample or use a product without purchasing it.

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  • 4. 

    Check 3 boxes below that are the 3 economic benefits of marketing

    • New and improved products

    • Increased quantity

    • Added value and utility

    • Lower Prices

    • More competition

    • Entertaining ads

    Correct Answer(s)
    A. New and improved products
    A. Added value and utility
    A. Lower Prices
    Explanation
    The three economic benefits of marketing are new and improved products, added value and utility, and lower prices. Marketing helps to stimulate innovation and the development of new and improved products, which can drive economic growth. Additionally, marketing adds value to products by creating a perception of quality and utility, which can lead to increased demand and higher prices. Finally, marketing can also lead to lower prices through increased competition and efficiency in the marketplace.

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  • Current Version
  • Mar 22, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Sep 11, 2012
    Quiz Created by
    Byrnsmjr
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