1) What is selling? a) Direct, personal communications with prospective customers in order to assess needs & satisfy those needs with appropriate products & services  b) Providing security for products, workers, and customers, and reducing the risks associated with marketing decisions and activities c) Budgeting for necessary financing, and providing financial assistance to customers to assist them with purchasing products and services d) Identifying and understanding the markets a company wants to serve and developing effective marketing strategies for each market 2) What is identifying and understanding the markets a company wants to serve and developing effective marketing strategies for each market a) Distribution b) Pricing c) Risk Management d) Market Planning 3) What is budgeting for necessary financing, and providing financial assistance to customers to assist them with purchasing products and services a) Financing b) Product and service management c) Marketing-Information Management d) Promotion 4) What is pricing? a) Using the needs of customers as the primary focus during the planning, production, pricing, distribution, and promotion of a product or service b) A location where people bring products to be conveniently exchanged c) Communicating information to prospective customers through advertising and other promotional methods to encourage them to purchase the organization's products and services d) Established the use of currency as a recognized medium of exchange 5) What is employee empowerment? a) The blending of four marketing elements---product, distribution, price, and promotion---by the business b) A unique group of prospective customers a business wants to serve and their location c) You do not rely on others for the things you need to survive d) An approach to customer service that gives employees the authority to solve many customer problems 6) What is distribution? a) Food and other materials are grown for consumption or for processing into a variety of products  b) Determining the best methods and procedures to use so the prospective customers are able to locate, obtain, and use the products and services of an organization c) Assisting in the design and development of products and services to meet the needs of customers d) Focuses on developing customer loyalty by which customers continue to purchase from the business for a long period of time 7) What is assisting in the design and development of products and services to meet the needs of customers? a) Relationship Marketing b) Marketing Mix c) Product and Service Management d) Product 8) What is obtaining, managing, and using market information to improve decision making and the performance of marketing activities?   a) Selling b) Promotion c) Market Concept d) Marketing-Information Management 9) What is promotion? a) Communicating information to prospective customers through advertising and other promotional methods to encourage them to purchase the organization's products and services b) Exchanging products or services with others by agreeing on their values  c) Using the needs of customers as the primary focus during the planning, production, pricing, distribution, and promotion of a product or service d) Creates or obtains products and services 10) What is using the needs of customers as the primary focus during the planning, production, pricing, distribution, and promotion of a product or service? a) Services b) Operations c) Marketing Concept d) Processing 11) What is providing security for products, workers, and customers, and reducing the risks associated with marketing decisions and activities? a) Raw Materials b) Management c) Risk Management d) Marketing Mix 12) What is anything offered to a market by the business to satisfy needs, including physical products, services, and ideas? a) Accounting and Finance b) Place c) Market d) Product 13) What is people not relying on others for the things we need to survive? a) Specialization of Labor b) Self-sufficient c) Bartering d) Money System 14) What is central market? a) Concentrating on one thing or a few related activities b) Maintains daily activities and resources of the business c) A location where people bring products to be conveniently exchanged d) Develops, implements, and evaluates business plans 15) What is concentrating on one thing or a few related activities? a) Price b) Promotion c) Bartering d) Specialization of Labor 16) What is bartering? a) Exchanging products or services with others by agreeing on their values b) Identifying and understanding the markets a company wants to serve and developing effective marketing strategies for each market c) Creates or obtains products and services d) Food and other materials are grown for consumption or for processing into a variety of products 17) What is marketing mix? a) Assisting in the design and development of products and services to meet the needs of customers b) Determining the best methods and procedures to use so the prospective customers are able to locate, obtain, and use the products and services of an organization c) The blending of four marketing elements---product, distribution, price, and promotion---by the business d) Communicating information to prospective customers through advertising and other promotional methods to encourage them to purchase the organization's products and services 18) What is a system established the use of currency as a recognized medium of exchange? a) Money System b) Production c) Operation d) Agriculture 19) What is the amount that customers pay and the methods of increasing the value of the product to the customers? a) Management b) Central Market c) Merchandising  d) Price 20) What is focusing on developing customer loyalty by which customers continue to purchase from the business for a long period of time? a) Employee Empowerment b) Relationship Marketing c) Marketing Mix d) Promotion

Marketing Functions Quiz

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