Introduction to Business

Section 1: Marketing Essentials

Self-Checks

1
From a marketing point of view, a(n) ______ is a group of customers who share common wants and needs.
A)audience
B)demographic
C)market
D)target
2
The process of getting goods and services to customers is called ______ .
A)channeling
B)distribution
C)handling
D)shipping
3
Getting the money that is necessary for setting up and running a business is called ______ .
A)financing
B)marketing
C)operating
D)pricing
4
Deciding how much to charge for a product or service so that a business can make a profit is called ______ .
A)costing
B)pricing
C)profiteering
D)marketing
5
When talking about the functions of marketing, any effort to inform, persuade, or remind potential customers about a business’s products or services is part of the ______ function.
A)advertising
B)communication
C)distribution
D)promotion
6
Companies use relationship marketing to build and maintain relationships with their ______ .
A)customers
B)employees
C)suppliers
D)vendors
7
There are ______ functions of marketing.
A)three
B)five
C)seven
D)nine
8
The four Ps associated with the marketing mix are product, ______, price, and promotion.
A)place
B)preference
C)profit
D)purpose
9
The ______ point is the point at which total revenues, or sales, equal total costs and expenses of developing and offering a product.
A)break-even
B)contact
C)decision
D)price
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