Principles of Marketing Chapter 1 Exam with Questions and Answers

Principles of Marketing Chapter 1 Exam with Questions and Answers Which of the following are considered ideas? (Select all that apply.) A. A non-profit organization B. A philosophy C. A service D. An opinion ANSWER B. A philosophy D. An opinion Like Timex, Rolex makes watches. How does Rolex add unique value to its products? A. By offering an eco-friendly, ethically-made product B. By offering convenience C. By conferring status D. By providing an inexpensive option ANSWER C. By conferring status An environmental nonprofit organization's Instagram channel encourages citizens to reduce their greenhouse gas emissions. What type of product is it selling? A. An innovation B. A service C. A good D. An idea ANSWER D. An idea