2. Random Review Answer a question correctly, then roll the dice to see how much your answer was worth.

3. Rules  You will be paired up with another student or two  Your team will have 10 seconds to answer the question shown on the board  Get the question right and roll the dice to see how many points you get for your precision  Try to avoid using your notes

4.  Tangible items of monetary value that satisfy needs & wants.  Goods

5.  An attribute of a product or service that makes it capable of satisfying consumers’ wants & need  Utility

6.  Generally, what costs more, to gain a new customer or to keep an existing customer?  Gain a new customer.

7.  In marketing, these are the people who use the product  Consumers

8.  Which economic utility is not considered a marketing utility?  Form utility

9.  Why is a reliable product & customer service so important in marketing to businesses?  Businesses need the product to work in order to create their own profit.

10.  The process of planning, pricing, promoting, selling, & distributing products to satisfy customer needs & wants  Marketing

11.  Name 1 of the economic benefits of marketing…  New & improved products  Lower prices  Added value

12.  If John buys a Barbie doll for his sister Joanna, John would be considered this…  Customer

13.  Where do exchanges take place?  The Marketplace

14.  Asking questions of a company’s employee and receiving answers would be considered this economic utility  Informational

15.  Intangible items of monetary value that satisfy needs & wants  Services

16.  A group of people identified as most likely to become customers  Target Market

17.  Why is it important to know your company’s target market?  Allows you to market your product to the possible consumers/customers

18.  Having a website or a magazine available for your customers to purchase goods would constitute this economic utility  Place

19.  Businesses should satisfy customers’ needs and wants while making a profit…  The Marketing Concept

20.  Allowing customers to use debit/credit cards enhances a company’s goods through this utility  Possession

21.  Name the 4 Ps of the marketing mix  Price  Promotion  Place  Product

22.  In marketing, the people that buy the product  Customers

23.  Selling big, green pine trees for indoor use after Thanksgiving would be an example of this utility  Time

24.  How does marketing help reduce the price of goods?  Increasing demand, which allows a company to: ◦ Charge a lower price per unit ◦ Sell more units ◦ Make more money  Increases competition

25.  A company’s percentage of total sales volume generated by all competition in a given market  Market Share

26.  A list of information about a target market, such as income level, lifestyle, & geographic residence  Customer Profile