Name: ________________________________
Marketing Principles
Final Exam Review
1. What is Marketing?
2. What is the marketing concept?
3. What is market segmentation? Name at least 3 ways to segment a market. Describe each.
4. What is a target market?
5. What are the 4 Ps of marketing? Be familiar with what each P entails and be able to recognize examples.
6. What is the marketing mix?
7. What is market share?
8. What is the industrial market?
9. What is the consumer market?
10. How do the industrial and consumer markets differ?
11. What is utility?
12. Explain each type of utility and give an example for each.
a. Form Utility
b. Time Utility
c. Place Utility
d. Information Utility
e. Possession Utility
13. Name 4 pricing strategies and briefly describe each.
14. What is social responsibility?
15. Name some current workplace trends and explain each.
16. What is ethical behavior? Give an example of UN-ethical behavior.
17. What is telecommuting?
18. What is flextime?
19. What is a franchise?
20. What is Gross National Product (GNP)?
21. Describe the free-enterprise economic system.
22. What is communism?
23. What economic system does the U.S. operate under?
24. What is competition?
25. What is non-price competition?
26. How do consumers benefit from competition?
27. What is profit?
28. What are they four phases of the business cycle?
29. How are marketing strategies best utilized?
30. What are capital resources?
31. What is a recession? Depression?
32. Name 3 examples of government trade agreements and alliances.
33. What is an embargo?
34. What factors are involved in changing the ways businesses do international trade?
35. What does utility add to a product?
36. What is the difference in customers and consumers?
37. What do you call the money left after taking out taxes?
38. What is competition-oriented pricing?
39. A symbol, design, distinctive coloring or lettering of a company is known as their?
40. What is brand extension?
41. What is brand licensing?
42. What is the difference between position by unique characteristics, by price and quality, in relation to
competition, and by features and benefits?
43. What is co-branding?
44. What are the phases of new product development?