MKT 1-1 Lesson test

What is an example of a durable good?

a truck

How does marketing benefit society?

job creation, increased tax revenue, and more choices for buyers.

What role does marketing play in a private enterprise system?

It connects customers with businesses that can meet their wants and needs.

What is an example of a nondurable good?

a granola bar

Complete the statement. Businesses that embrace the marketing concept start by

analyzing and identifying the needs and wants of customers.

Which of the following is a service?

Hulu streaming service

Complete the sentence. The Olympics is a marketed

Event

To promote a product is to

inform potential customers that a product or service exists, and the results they should expect from using it

Marketing is a _________________ discipline of _________________ functions.

multifaceted, interrelated

Marketing

The enterprise and pursuit of ideation, creation, communication, and delivery of profitable products and services to targeted customers for their benefit and society's benefit.

Which factor would most likely lead a company to invest a large amount of money in a Super Bowl ad for its product or service?

Their product or service will reach a wide audience.

What is one result of competition?

more buying options for customers

marketing concept

To analyze and identify the needs and wants of customers, and build strategies to satisfy those needs and wants, better and more effectively than its competitors.

Read the advertisement from De Beers jewelry store. "A diamond is forever." What type of product is marketed in this ad?

a good