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Marketing Midterm

Marketing Midterm Review

QuestionAnswer
True or False In order to barter, both parties must want what the other party has._________. TRUE
.
True or False Marketing activities and jobs have not changed much over the past 100 years. FALSE
Marketing includes _______, __________, and __________ transportation, promotion, and financing.
.
True or False Dividing consumers into markets based on where they live is referred to as market segmentation. TRUE
True or False Effective marketing results in lower prices of products and services for consumers. TRUE
The basic economic problem is __________. scarcity.
True or False In a private enterprise economy, the success or failure of a business is determined primarily by the decisions made by each business. TRUE
An unfullfilled desire is called a(n) _______. want.
All of the consumers who will purchase a particular product or service comprise a(n)_______. economic market.
_______media include a variety of digital technologies that provide interactive multimeda experiences for users. Rich
Market ___________ is the portion of the total market potential that each company expects in relation to its competitors. share
Today's marketers are continuously looking for_______. market opportunities.
Consumers with different needs require ________. specialized products and services.
True or False Groups of similar consumers within a larger market are known as market segments. TRUE
True or False Supply is a relationship between the quantity of a product that producers are willing and able to provide and the demand. FALSE (price is correct)
True or False Internal information provides an understanding of factors outside the organization. FALSE (external is correct)
True or False A monopoly is a kind of market in which one supplier offers a unique product. TRUE
True or False Information collected for the first time to solve the problem being studied is secondary. FALSE (primary is correct)
True or False A need is an unfullfilled desire. FALSE (want is correct)
Marketing should start with good ________ analysis. problem
True or False With the marketing concept, planning begins by developing a marketing mix. FALSE (developing a product is correct)
True or False Your school is part of your social environment. TRUE
True or False An identified market with excellent potential based on careful research is a market opportunity. TRUE
Created by: Bevsj1
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