1. Possession utility is provided when ?
a) A good or service is obtained and there is a right to use or consume it
b) A product is available where someone wants it
c) Someone performs a task for someone else
d) Someone produces something tangible

2. The performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services to a customer or client is?
a) A planned economic system
b) Macro-marketing
c) Micro -marketing
d) An intermediary

3. Using the ______, researchers compare the responses of two or more groups that are similar except on the characteristic being tested?
a) Scientific method
b) Marketing research process
c) Situation analysis
d) Experimental method

4. Products that are bought quickly, as unplanned purchases are?
a) Staples
b) Impulse products
c) Emergency products
d) Specialty products

5. Which of the following is NOT one of the stages of the product life cycle?
a) Market maturity
b) Market growth
c) Sales decline
d) Product initiation

6. The ______________ enforces laws and develops guidelines regarding unfair methods of competition?
a) Food and Drug Administration (FDA)
b) Consumer Product Safety Commission (CPSC)
c) Office of Consumer Affairs (OCA)
d) Federal Trade Commission (FTC)

7. A _________ is a statement of relationships among marketing variables?
a) Marketing model
b) Hypotheses
c) Situation analysis
d) Research proposal

8. Which of the following is NOT a basic kind of market (competitive) situation?
a) Monopolistic competition
b) Monopoly
c) Oligopoly
d) Simplistic competition

9. Which of the following is NOT one of the 4 parts of the “product-market” definition?
a) Product type
b) Customer type
c) Customer need
d) Product timeline

10. The five kinds of economic utilities supplied by production and marketing are the: form, task, time, place and possession utilities?
a) True
b) False