Marketing True/False

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a business schedules its hours to provide place utility

false

a business that believes in the marketing concept bases their business planning on increasing sales

false

a channel of distribution moves materials from consumers to manufacturers

false

a company reaches the break-even point when it buys more merchandise than it sells

false

a final consumer buys goods and services to produce and market other goods and services or for resale

false

a supply curve and demand curve should never intersect

false

a utility company usually operates in a pure competition enviornment

false

automatic teller machines provide possession utility

false

bringing a new product to the marketplace is very expensive for businesses

false

business people often base purchases on patronage motives

false

businesses have discovered that emotional motives are not very strong

false

by far, the most common type of economic competition facing most businesses is pure competition

false

companies that use the marketing concept do not focus on specific groups of customers, but rather on all consumers in general

false

consumers go through six steps when making a purchasing decision

false

customers using the products and services of a monopoly business are usually satisfied

false

elasticity of demand measures how much consumer demand for a product changes when the supply is increased or decreased

false

external factors do not influence our purchase decisions

false

in a free economy, resources are free

false

loyalty is a rational motive

false

manufacturers are responsible for most final pricing decisions

false

many businesses reduce marketing efforts when faced with financial problems

false

marketing is more effective when it is not integrated into other business activities

false

marketing today is very similar to marketing 20 years ago

false

meeting your physiological needs is optional

false

most consumers are individuals who make decisions in a unique way

false

most of today's consumers are not well informed

false

outdoor advertising has become less popular in recent years

false

possession utility does not occur until the consumer owns the product

false

resources are unlimited

false

spending money on marketing reduces a company's profit in the long run

false

the factors that influence a customer's buying decision are not important to marketers

false

the gross profit margin is the amount a customer pays for a product

false

the hierarchy of needs was developed by Isaac Newton

false

the opposite of pure competition is oligopoly

false

the quantity of a product that producers are willing and able to provide at a specific price is demand

false

the wants and needs of consumers are limited

false

there are enough resources available to meet everyone's wants and needs

false

there are seven levels to the hierarchy of needs

false

when direct channels of distribution are used, producers and manufacturers rely on other businesses to deliver products

false

The basic economic problem is

scarcity

a business in a purely competitive market has no control over price if it wants to sell its products

true

a consumer evaluates the choices that are available after identifying possible solutions

true

a consumer may be aware of products but not make a purchase until a need exists

true

a consumer may be aware of products but not make a purchase until the need exists

true

a decision can be evaluated by determining the satisfaction it delivered

true

a demand curve demonstrates the relationship between price and the quantity demanded

true

a single product can fill more than one need

true

a video store provides possession utility

true

advertisers can use fear to motivate customers to buy a product

true

advertising is part of marketing

true

as the price of a product increases, producers will manufacture more of the product

true

businesses in an oligopoly will have to cooperate to raise prices

true

businesses often fail because they don't understand and use the marketing concept

true

businesses that are not prepared for competition have a difficult time staying in the market

true

businesses use limited decision-making to select office furniture

true

businesses use the resources available to develop products and services

true

consumers are at different levels on the hierarchy of needs

true

consumers can find information in the phone book

true

consumers select products that they believe are able to provide the greatest satisfaction for the price

true

convenience stores that are open 24 hours a day usually provide time and place utility

true

distribution planning is important because the service must be available where and when the customer wants it

true

economic utility supports the marketing concept

true

form utility results from changes in the tangible parts of a product or service

true

in a monopoly, customers will pay a higher price because the supplier has no competition

true

in a private enterprise economy, the government uses laws and regulations to protect society from harmful decisions made by producers and consumers

true

in pure competition there are a larger number of suppliers offering very similar products

true

marketers try to encourage brand loyalty

true

marketing and product planning should occur at the same time

true

marketing can help a business solve problems

true

marketing strategies are developed as a part of the business plans

true

marketing strategies are developed as part of the business plans

true

most service businesses do not use a channel of distribution

true

personality is a well-defined, enduring pattern of behavior

true

product and distribution are important to producers and manufacturers

true

some businesses do not see the specific needs of consumers as important

true

successful businesses continually consider the customers' wants and needs

true

the United States has many of the characteristics of a private enterprise economy

true

the airline industry is an example of an oligopoly

true

the earliest use of marketing was to move products from producer to the consumer

true

the first step in making a decision is recognizing a need, desire, or problem

true

the marketing mix is developed to meet the wants and needs of a company's consumers

true

the marketing process is more scientific than creative

true

the most common type of economic competition facing most businesses is monopolistic competition

true

the most difficult type of competition businesses face is a market in which businesses compete with others offering very similar products

true

the pricing strategies of your direct competition are valuable knowledge for your business

true

the specific types of resources a business has available will determine the types of products and services it can develop and sell

true

various consumer groups may have different needs

true

without the marketing concept, a business will develop a product or service and then decide how to market the product

true

your favorite color is influenced by your personality

true


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