1. Observing people in their “natural habitat” to note their buying behavior is an example of which type of primary data?

2. Product ______________determine the price floor, or the minimum of what a company plans on pricing their product.

3. The ________ environment consists of laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society.

4. The _________ ________ Act of _(year)____prevents false, misleading or deceptive labels, leading to unfair competition?

5. The ____________ __________ represents a drop in average cost with accumulated production.

6. The purchase of an umbrella would be what type of consumer products?

7. The selling concept and marketing concept have different meanings, why?

8. Those who are in Generation __ were born between 1965 and 1976, while those born between 1977 and 2000 are called Generation ___ or _________.

9. True or False: Brand mantra serves to articulate the heart and soul of a brand in a 3-5 word phrase.

10. True or False: Clorox bleach would count as a durable good.

11. True or False: Marketing is defined as the process by which companies create value for customers and build strong customer relationships, capturing customers’ value in return.

12. True or False: Trying a new brand of cookies just out of boredom is an example of habitual buying behavior.

13. True or False? The “Share a Coke with…” campaign by beverage company Coca-Cola is a way of letting customers customize their soda cans. This would be an example of micromarketing.