Introduction to Business

Chapter 13: Marketing in Today's World

Chapter Practice Review Quizzes

1
Which term refers to a group of customers who share common wants and needs?
A)fan base
B)market
C)demographic
D)population
2
Which term refers to the process of creating, promoting, and presenting a product to meet consumers' wants and needs?
A)advertising
B)propaganda
C)marketing
D)sales
3
Which term refers to the process of getting goods and services to customers?
A)distribution
B)production
C)marketing
D)financing
4
Which function of marketing includes protecting investments through risk management?
A)distribution
B)pricing
C)selling
D)financing
5
Which is an aspect of marketing information management?
A)gathering and analyzing information about competitors' products
B)protecting investments
C)deciding how much to charge
D)informing consumers about your product
6
Which term is NOT an aspect of the marketing mix?
A)product
B)placement
C)population
D)price
7
Which type of distribution does not involve a middleman ?
A)indirect distribution
B)channeling
C)third party distribution
D)direct distribution
8
Which expression refers to a situation where total sales equal total cost of production?
A)median income
B)price points
C)supply equals demand
D)break-even point
9
Which refers to the gathering and analyzing information on the makeup of a market?
A)demographics
B)cost analysis
C)market research
D)data analysis
10
Which is NOT included in the demographics of a population?
A)age
B)gender
C)income
D)last names
11
Which practice helps companies market to the people who are most likely to buy their product?
A)target marketing
B)market segmentation
C)profiling
D)demographics
12
Which term refers to the practice of dividing a market into groups of customers who have the same needs and traits?
A)demographics
B)market segmentation
C)target marketing
D)market analysis
13
Which will most help a business collect customers' responses to a new product?
A)test marketing
B)market segmentation
C)understanding demographics
D)focusing on customer service
14
What is one result of effective market research?
A)immediate access to global markets
B)immediate access to start-up capital
C)information that helps a business identify opportunities
D)improved production management
15
Which is the final step in the process of developing a new product?
A)develop a business plan
B)develop the product
C)evaluate customer acceptance
D)introduce the product
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