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!

Sample Question

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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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