Marketing Essentials - Chapter 1 Quiz

7 Questions
Marketing Quizzes & Trivia

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

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Questions and Answers
  • 1. 
    Terminology.  Match the marketing term to its definition
    • A. The process of planning, pricing, promoting, selling, and distributing products/services to satisfy customer wants/needs
    • A.
    • B. Tangible item of value that satisfies wants/needs
    • B.
    • C. Intangible item of value that satisfies wants/needs
    • C.
    • D. The idea that a business should strive to satisfy customer wants/needs while generating a profit
    • D.
    • E. An attribute of a product or service that makes it capable of satisfying wants/needs
    • E.
    • F. A group of people who share similar wants/needs and are capable of buying products/services
    • F.
    • G. Consumers who purchase goods/services for personal use
    • G.
    • H. Businesses that purchase goods/services for use in their operations
    • H.
    • I. A company's percentage of total sales volume in relation to their competitors
    • I.
    • J. A group of people identified as those most likely to purchase a product/service
    • J.
    • K. Information about a target market (age, income, education, etc.)
    • K.
    • L. The four basic marketing strategies (4 Ps)
    • L.
  • 2. 
    Match the description to one of the 7 Functions of Marketing below:
    • A. Getting the product to the customer
    • A.
    • B. Getting money for setting up and running a business and offering credit
    • B.
    • C. Gathering, analyzing, and storing information on customers, trends, and competition
    • C.
    • D. How much to charge for a good/service in order to make a profit
    • D.
    • E. Obtaining, developing, maintaining, and improving a product based on market research
    • E.
    • F. An effort to inform, persuade, or remind potential customers about a business's goods/services (advertising, publicity)
    • F.
    • G. Providing customers with goods/services (retail, wholesale, manufacturer)
    • G.
  • 3. 
    Match each Economic Utlity with its description
    • A. Changing raw material into finished products
    • A.
    • B. Having a product/service where customers can purchase
    • B.
    • C. Having a product/service when a customer can purchase
    • C.
    • D. Exchanging a product/service for money
    • D.
    • E. Communicating with the customer
    • E.
  • 4. 
    What are the four P's of the Marketing Mix?
    • A. 

      People, Place, Promotion, Price

    • B. 

      Place, Price, Promotion, Product

    • C. 

      People, Product, Price, Place

  • 5. 
    What are the two types of markets we discussed in Chapter 1?
    • A. 

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

    • B. 

      Retail and Wholesale

    • C. 

      Business and Government

  • 6. 
    A consumer and a customer are one in the same?
    • A. 

      True

    • B. 

      False

  • 7. 
    Check 3 boxes below that are the 3 economic benefits of marketing
    • A. 

      New and improved products

    • B. 

      Increased quantity

    • C. 

      Added value and utility

    • D. 

      Lower Prices

    • E. 

      More competition

    • F. 

      Entertaining ads