Entre. Ch. 10 Review
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| Marketing is the satisfying of customer needs | at a profit.
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| An entrepreneur’s market is | the group of people who are current and possible future customers.
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| A product has brand recognition when it | distinguishes a business or product in the minds of customers.
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| Marketing is the business function that | identifies customer needs and responds to them.
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| Nike recognized that customers wanted sneakers because | they knew they should exercise.
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| Which of the following is not an example of brand recognition? | customers aren’t sure which of several products to buy.
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| The “Four P’s” of marketing are | product, price, place, and promotion.
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| Mindshare or brand awareness in the mind of consumers is created by | advertising.
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| Ray Kroc, who founded McDonald’s, invented | a new way to market hamburgers.
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| Business cards usually contain the name of a person and the business’s name, as well as contact information. T/F | True
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| Making sure that customers’ needs are met discourages new customers. T/F | False
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| Packaging is part of the product, even if it’s thrown away. T/F | True
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| A brand is a name that distinguishes a business’s product from that of its competitors. T/F | True
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| Selling higher-priced luxury products in discount stores is a good placement strategy. T/F | False
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