Question | Answer |
Marketing is the satisfying of customer needs | at a profit. |
An entrepreneur’s market is | the group of people who are current and possible future customers. |
A product has brand recognition when it | distinguishes a business or product in the minds of customers. |
Marketing is the business function that | identifies customer needs and responds to them. |
Nike recognized that customers wanted sneakers because | they knew they should exercise. |
Which of the following is not an example of brand recognition? | customers aren’t sure which of several products to buy. |
The “Four P’s” of marketing are | product, price, place, and promotion. |
Mindshare or brand awareness in the mind of consumers is created by | advertising. |
Ray Kroc, who founded McDonald’s, invented | a new way to market hamburgers. |
Business cards usually contain the name of a person and the business’s name, as well as contact information. T/F | True |
Making sure that customers’ needs are met discourages new customers. T/F | False |
Packaging is part of the product, even if it’s thrown away. T/F | True |
A brand is a name that distinguishes a business’s product from that of its competitors. T/F | True |
Selling higher-priced luxury products in discount stores is a good placement strategy. T/F | False |