Gross domestic product-universal functions of marketing

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Reference no: EM132211561

1. Gross domestic product (GDP) is the:

A. total cost of producing all goods and services sold in a year.

B. total market value of goods and services provided in an economy in a year by both residents and nonresidents of that country.

C. total market value of goods (but not services) consumed in an economy in a year.

D. total market value of goods and services consumed in a year.

E. total market value of goods (but not services) produced in an economy in a year.

2. The universal functions of marketing include buying, selling, transporting, storing, __________________________________________.

A. standardization and weighing, financing, risk taking, and marketing information

B. standardization and grading, facilitating, risk taking, and marketing information

C. standardization and grading, financing, risk taking, and marketing information

D. standardization and grading, financing, risk taking, and merchandising information

3. Which of the following blends all of the firm's marketing plans into one big plan?

A. Marketing program.

B. Marketing mix.

C. Marketing statement.

D. Marketing overview.

4. Which of the following is NOT an example of how the technological environment might affect marketing management?

A. A manufacturer uses a computer to send orders directly to a supplier's computer.

B. A retailer installs a computerized checkout scanner to replace a manual cash register system.

C. A firm develops a substitute for saturated fat in manufactured foods.

D. All of these are examples of how the technological environment might affect marketing management.

5. The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called:

A. management by objective.

B. marketing programming.

C. marketing strategy planning.

D. strategic (management) planning.

E. market planning.

6. The _____ area of the marketing mix includes decisions related to telling the target market or others in the channel of distribution about the "right" product.

A. product

B. place

C. promotion

D. price

E. communication

7. To improve its profits, Delta Tool Corp. has redesigned its entire line of rechargeable power drills-adding several new or improved features and three new models. Apparently, Delta Tool is pursuing a ______________ opportunity.

A. combiner

B. market development

C. product development

D. diversification

E. market penetration

8. Which of the following is NOT one of the "universal functions of marketing"?

A. Production

B. Standardization

C. Financing

D. Buying

E. Transporting

9. Marketing:

A. emphasizes mass selling over personal selling.

B. allows production, rather than marketing, to determine what products to make.

C. applies to both profit and nonprofit organizations.

D. concentrates on production, rather than advertising.

E. none of these is a true statement about marketing.

10. When a company expands globally, this is an example of:

A. Market development.

B. Product development.

C. Diversification.

D. Market penetration.

E. Mass marketing.

Reference no: EM132211561

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