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- 1. Multiple ChoiceThis is the process through which goods and services are created and provided to the customer:productionmarketingmerchandisingselling
- 2. Multiple ChoiceMarketing is known as the creation and maintenance of satisfying _______________ relationships.sellingexchange
- 3. Multiple ChoiceWhich of the following statements BEST describes where marketing takes place?Marketing is limited to certain places and times during the day.Marketing takes place everywhere and is a constant force in our lives.Marketing takes place at some public places but not all and usually goes unnoticed.Marketing takes place exclusively in a central marketplace.
- 4. Multiple ChoiceWhich of the following is a FALSE statement about marketing?To be successful in business requires that businesses be marketing oriented.Most of the businesses in the U.S. are involved in marketing.Non-profit organizations, such as Arkansas Children’s Hospital, use marketing.Events, such as the Crooked Creek Crawdad Days music festival, use marketing.
- 5. Multiple ChoiceThe combination of the four basic marketing decisions - product, place, price, and promotion:marketing mixtarget marketingmarketing conceptdemographics
- 6. Multiple ChoiceThis is anything offered to a market by the business to satisfy needs, could include a physical good or an intangible service.productpriceplacepromotion
- 7. Multiple ChoiceThe locations and methods used to make the product available to customers:productpriceplacepromotion
- 8. Multiple ChoiceThis is the amount the customer will pay for the product. The value of money or its equivalent placed on a good or service.productpriceplacepromotion
- 9. Multiple ChoiceThis is any form of communication a business or organization uses to inform, persuade, or remind consumers about its products or services.productpriceplacepromotion
- 10. Multiple ChoiceThis means satisfying customer's wants and needs while making a profit. It is a company-wide consumer orientation.promotional conceptmarketing conceptpromotional conceptrevenue generating concept
- 11. Multiple ChoiceThey can have it in any color they want, as long as its black.” This quote explains why this famous automobile company almost went out of business in the 1920’s.The Ford Motor CompanyThe John Deere CompanyThe Chrysler CorporationGeneral Motors
- 12. Multiple ChoiceThis marketing strategy focuses on developing loyal customers who continue to purchase from the business for a long period of time.Relationship MarketingCommunity Marketing
- 13. Multiple ChoiceUsing entertainment or news to get people to talk about a company, product, brand, idea, or cause. The message is then passed from consumer to consumer using social media - sometimes called word-of-mouth.product seedingsocial media marketingviral marketingguerrilla marketing
- 14. Multiple ChoiceAchieving conventional goals with unconventional methods, such as investing energy & creativity instead of money.product seedingsocial media marketingviral marketingguerrilla marketing
- 15. Multiple ChoicePlacing the right product in the right hands at the right time and providing information or samples to influential individuals.product seedingsocial media marketingviral marketingguerrilla marketing
- 16. Multiple ChoiceMany businesses use Facebook, Twitter, YouTube, or Instagram to communicate with customers. This is referred to as:product seedingsocial media marketingviral marketingguerrilla marketing
- 17. Multiple ChoiceHiring someone to wear a Statue of Liberty costume to stand on a busy street corner to promote the entrepreneur’s new business is an example of:product seedingsocial media marketingviral marketingguerrilla marketing
- 18. Multiple ChoiceShark Tank is a reality TV program that allows entrepreneurs to pitch their business ideas to a panel of venture capitalists. What is a venture capitalist?investorbankerjudgelawyer
- 19. Multiple ChoiceWhy do so many entrepreneurs REALLY want to be on the show Shark Tank?Because the panel of venture capitalist might want to buy the product.Because friends and family members will be impressed with the sales pitch.Because an appearance on the show is worth millions of dollars in free marketing.Because it is an opportunity to practice the sales pitch in front of good judges.
- 20. Multiple ChoiceThis is the coordination of all the physical elements that are used to project the right brand image to customers. Think about the physical appearance of a restaurant like Hard Rock Café.personal sellingindustrial marketingcross merchandisingvisual merchandising
- 21. Multiple ChoiceThis is the practice of displaying products from different categories together, in order to generate additional sales from both. Think about a display of mustard above a display of hot-dogs.personal sellingindustrial marketingcross merchandisingvisual merchandising
- 22. Multiple ChoiceThis is the rivalry among businesses for consumers’ dollars.MarketingCompetitionPersonal SellingVisual Merchandising
- 23. Multiple ChoiceWhen an entrepreneur decides on a marketing strategy that emphasizes how inexpensive their product is when compared to other competing products:non-sales competitionsales competitionprice competitionnon-price competition
- 24. Multiple ChoiceWhen the entrepreneur markets a new product that emphasizes how unique and special the product is and that other businesses have nothing like it:non-sales competitionsales competitionprice competitionnon-price competition
- 25. Multiple ChoiceEntrepreneurs must seek strategies and methods that will differentiate them from current competitors and potential future competitors.TrueFalse
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