Question: Companies selling mass consumer goods and services such as soft drinks, cosmetics, air travel, and athletic shoes and equipment spend a great deal of time trying to establish a superior brand image in markets called __________.

• 1. Business markets
• 2. Global markets
• 3. Consumer markets
• 4. Nonprofit and governmental markets

Question: Marketers often use the term ___________ to cover various groupings of customers.

• 1. People
• 2. Buying power
• 3. Demographic segment
• 4. Market

Question: In __________more customers would like to buy the product than can be satisfied.

• 1. latent demand
• 2. irregular demand
• 3. overfull demand
• 4. excessive

Question: In latent demand, consumers may share a strong need that cannot be satisfied by a/an____________?

• 1. Future Product
• 2. Expected Product
• 3. Latent Product
• 4. Existing Product

Question: A Marketer is someone seeking a response from another party, called the __________.

• 1. Customer
• 2. Fund raiser, contributor
• 3. Voter
• 4. Prospect

Question: Charles Revson of Revlon observed: “In the factory, we make cosmetics; in the store, _________.

• 1. we sell quality
• 2. we challenge competitors
• 3. we implement ads
• 4. we sell hope

Question: __________ goods constitute the bulk of most countries’ production and marketing efforts.

• 1. Durable
• 2. Impulse
• 3. Physical
• 4. Service e. Event

Question: Marketing management is ____________?

• 1. Managing the marketing process
• 2. Monitoring the profitability of the companies products and services
• 3. Developing marketing strategies to move the company forward
• 4. The art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value,

Question: The most formal definition of marketing is ____________?

• 1. Meeting needs profitably
• 2. Identifying and meeting human and social needs
• 3. The 4Ps (Product, Price, Place, Promotion)
• 4. an organizational function and a set of processes for creating, communicating, and delivering, value to customers, and for managing customer relationships in ways that benefit the organization and its stake holders.

Question: Marketing is both an “art” and a “science” there is constant tension between the creative side of marketing and the ________ side.

• 1. Selling side
• 2. Formulated side
• 3. Management side
• 4. Forecasting side