Chapter 11: Marketing Function

Question 1

Is a group of activities designed to facilitate and expedite the selling of goods and services

Answer 1

Marketing

Question 2

includes the tangible or intangible item and its capacity to satisfy a specific need

Answer 2

Product

Question 3

Refers to the money or other considerations exchanged for the purchase or use of the product, idea, or service

Answer 3

Price

Question 4

If every factor is equal, customers would prefer to buy from firms easily accessible to them

Answer 4

Place

Question 5

Communicating information between seller and potential buyer

Answer 5

Promotion

Question 6

A paid message that appears in the mass media for the purpose of informing or persuading people about particular products, services, beliefs, or action

Answer 6

Advertising

Question 7

The promotional tool that publishes news or information about a product, service, or idea on behalf of a sponsor but is not paid for by the sponsor

Answer 7

Publicity

Question 8

A more aggressive means of promoting the sales of a product or service

Answer 8

Personal Selling

Question 9

Any paid attempt to communicate with the customers other than advertising, publicity, and personal selling

Answer 9

Sales Promotion

Question 10

Consists of individuals or organizations, or both, with the desire and ability to buy a specific product or service

Answer 10

Market

Question 11

Must have the ability to satisfy the profit objectives of the company

Answer 11

Target Market

Question 12

Must be created and maintained after the target market has been identified

Answer 12

Marketing Mix