MKT 3301 PRINCIPLES OF MARKETING FINAL -
QUESTIONS AND VERIFIED ANSWERS
Correct 28
Incorrect 00
Your answers
1 of 28
Term
Identify what must occur for marketing to take place
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marketing occurs when a single party marketing takes place when one
promotes a product without party influences another without
exchange. transaction.
marketing doesn't occur unless
tow or more parties are willing marketing happens when products
to exchange something for are given away freely.
something else
Don't know?
, 2 of 28
Term
Define customer satisfaction
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The extent to which a firm fulfills
The evaluation of a firm's market
a consumer's needs, desires,
share compared to competitors.
and expectations.
The process of maximizing a firm's The measurement of a firm's
profits through cost reduction. efficiency in product development.
Don't know?
3 of 28
Term
Know these major laws that impact businesses
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FTC, Robinson Patman, Trying To Carryout The Marketing
Magnuson-Moss Concept
, Product, Price, Place, Promotion Making Whatever Products Are Easy
To Produce And Then Trying To Sell
Them
Don't know?
4 of 28
Definition
Setting a rather high price to suggest high quality or high status.
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Prestige pricing Penetration pricing
Psychological pricing Odd-even pricing
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5 of 28
Term
Average costs
Give this one a try later!
Total costs / quantity Price - variable cost
QUESTIONS AND VERIFIED ANSWERS
Correct 28
Incorrect 00
Your answers
1 of 28
Term
Identify what must occur for marketing to take place
Give this one a try later!
marketing occurs when a single party marketing takes place when one
promotes a product without party influences another without
exchange. transaction.
marketing doesn't occur unless
tow or more parties are willing marketing happens when products
to exchange something for are given away freely.
something else
Don't know?
, 2 of 28
Term
Define customer satisfaction
Give this one a try later!
The extent to which a firm fulfills
The evaluation of a firm's market
a consumer's needs, desires,
share compared to competitors.
and expectations.
The process of maximizing a firm's The measurement of a firm's
profits through cost reduction. efficiency in product development.
Don't know?
3 of 28
Term
Know these major laws that impact businesses
Give this one a try later!
FTC, Robinson Patman, Trying To Carryout The Marketing
Magnuson-Moss Concept
, Product, Price, Place, Promotion Making Whatever Products Are Easy
To Produce And Then Trying To Sell
Them
Don't know?
4 of 28
Definition
Setting a rather high price to suggest high quality or high status.
Give this one a try later!
Prestige pricing Penetration pricing
Psychological pricing Odd-even pricing
Don't know?
5 of 28
Term
Average costs
Give this one a try later!
Total costs / quantity Price - variable cost
