Marketing True/False
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
