ESSENTIALS OF MARKETING 16TH EDITION
PERREAULT COMPREHENSIVE REVIEW
2026 FULL QUESTIONS AND VERIFIED
ANSWERS
◉ Micro-marketing. Answer: a set of activities performed by
organizations.
◉ Macro-marketing. Answer: a social process that directs an economy's
flow of goods and services from producers to consumers in a way that
effectively matches supply and demand and accomplishes the objectives
of society.
(View as a social process)
◉ Pure subsistence economy. Answer: Where each family unit produces
everything, it consumes, there is no need to exchange goods and services
and no marketing is involved.
◉ Economies of Scale. Answer: As a company producers larger
numbers of a particular product, the cost of each unit of the product goes
down.
◉ The universal functions of marketing. Answer: buying, selling,
transporting storing, standardization and grading, financing, risk taking,
and market information.
, ◉ Market information function. Answer: the collections, analysis, and
distribution of all the information needed to plan, carry out, and control
marketing activities, whether in the firm's own neighborhood or in a
market overseas
◉ Intermediary. Answer: when someone who specializes in trade rather
than production
- This plays a role in the exchange process
- This is beneficial for produces and consumers, especially when they
don't use a marketing specialist to handle market functions
◉ Collaborators. Answer: firms that facilitate or provide one or more of
the marketing functions other than just buying.
- This includes advertising agencies, marketing research firms,
independent product-testing laboratories, Internet service providers,
public warehouses, transporting firms, communication companies, and
financial institutions.
Example: Walmart and Google worked to make google assistant
PERREAULT COMPREHENSIVE REVIEW
2026 FULL QUESTIONS AND VERIFIED
ANSWERS
◉ Micro-marketing. Answer: a set of activities performed by
organizations.
◉ Macro-marketing. Answer: a social process that directs an economy's
flow of goods and services from producers to consumers in a way that
effectively matches supply and demand and accomplishes the objectives
of society.
(View as a social process)
◉ Pure subsistence economy. Answer: Where each family unit produces
everything, it consumes, there is no need to exchange goods and services
and no marketing is involved.
◉ Economies of Scale. Answer: As a company producers larger
numbers of a particular product, the cost of each unit of the product goes
down.
◉ The universal functions of marketing. Answer: buying, selling,
transporting storing, standardization and grading, financing, risk taking,
and market information.
, ◉ Market information function. Answer: the collections, analysis, and
distribution of all the information needed to plan, carry out, and control
marketing activities, whether in the firm's own neighborhood or in a
market overseas
◉ Intermediary. Answer: when someone who specializes in trade rather
than production
- This plays a role in the exchange process
- This is beneficial for produces and consumers, especially when they
don't use a marketing specialist to handle market functions
◉ Collaborators. Answer: firms that facilitate or provide one or more of
the marketing functions other than just buying.
- This includes advertising agencies, marketing research firms,
independent product-testing laboratories, Internet service providers,
public warehouses, transporting firms, communication companies, and
financial institutions.
Example: Walmart and Google worked to make google assistant
