ESSENTIALS OF MARKETING 16TH EDITION
PERREAULT EXAM SCRIPT 2026
COMPLETE QUESTIONS AND CORRECT
ANSWERS
◉ marketing. Answer: provides needed direction for production and
helps make sure that the right goods and services are produced and find
their way to consumers
◉ innovation. Answer: the development and spread of new ideas, goods
and services
◉ pure subsistence economy. Answer: when each family unit produces
everything it consumes there is no need to exchange goods and services
and no marketing is involved
◉ macro marketing. Answer: social process that directs and 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
◉ macro marketing. Answer: its role is to effectively match this
heterogeneous supply and demand and at the same time accomplish
society's objectives
, ◉ economies of scale. Answer: which means that as a company
produces larger numbers of a particular product, the cost of each unit of
the product goes down
◉ universal functions of marketing. Answer: are buying, selling,
transporting, storing, standardization and grading, financing, risk taking,
and market information
◉ buying function. Answer: means looking for and evaluating goods
and services
◉ selling function. Answer: involves promoting the product, includes
the use of personal selling, advertising, customer service, and other
direct and mass selling methods (this is the most visible function or
marketing)
◉ transporting function. Answer: means the movement of goods from
one place to another
◉ storing function. Answer: involves holding goods until customers
need them
◉ standardization and grading. Answer: involve sorting products
according to size and quality
PERREAULT EXAM SCRIPT 2026
COMPLETE QUESTIONS AND CORRECT
ANSWERS
◉ marketing. Answer: provides needed direction for production and
helps make sure that the right goods and services are produced and find
their way to consumers
◉ innovation. Answer: the development and spread of new ideas, goods
and services
◉ pure subsistence economy. Answer: when each family unit produces
everything it consumes there is no need to exchange goods and services
and no marketing is involved
◉ macro marketing. Answer: social process that directs and 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
◉ macro marketing. Answer: its role is to effectively match this
heterogeneous supply and demand and at the same time accomplish
society's objectives
, ◉ economies of scale. Answer: which means that as a company
produces larger numbers of a particular product, the cost of each unit of
the product goes down
◉ universal functions of marketing. Answer: are buying, selling,
transporting, storing, standardization and grading, financing, risk taking,
and market information
◉ buying function. Answer: means looking for and evaluating goods
and services
◉ selling function. Answer: involves promoting the product, includes
the use of personal selling, advertising, customer service, and other
direct and mass selling methods (this is the most visible function or
marketing)
◉ transporting function. Answer: means the movement of goods from
one place to another
◉ storing function. Answer: involves holding goods until customers
need them
◉ standardization and grading. Answer: involve sorting products
according to size and quality
