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Marketing I 1. Please explain, in your own (Mr. Breitsprecher's Business Ed Home Page)

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©Mr. Breitsprecher & BreitLinks (www.breitlinks.com) All Rights Reserved Unit 3 Review: Functions of Marketing, page 1
Marketing I
Unit 3 Test Review: Marketing Functions Name: _______________________
1. Please explain, in your own words, how marketers use financing to connect buyers and sellers.
Please provide an example to illustrate this.
2. Please explain, in your own words, how marketers use pricing to connect buyers and sellers.
Please provide an example to illustrate this.
3. Please explain, in your own words, how marketers use promotion to connect buyers and sellers.
Please provide an example to illustrate this.
4. Please explain, in your own words, how marketers use product/service management to connect
buyers and sellers. Please provide an example to illustrate this.
©Mr. Breitsprecher & BreitLinks (www.breitlinks.com) All Rights Reserved Unit 3 Review: Functions of Marketing, page 2
5. Please explain, in your own words, how marketers use channels of distribution to connect
buyers and sellers. Please provide an example to illustrate this.
6. Please explain, in your own words, how marketers use personal selling to connect buyers and
sellers. Please provide an example to illustrate this.
7. Please explain, in your own words, how marketers use marketing information management to
connect buyers and sellers. Please provide an example to illustrate this.
Marketing Math
Pricing (Note: Round up to the nearest whole penny – please do not round down):
Mark-up (Cost plus): Cost × (1 + Markup) = Sale price
Mark-down: Multiply the original price by the discount rate. In our example of a $150 product
with a 10 percent discount, the markdown would be $15 ($150 x .10)
1. If you use a 50% mark-up, what will be the selling price of an item that costs you $25?
©Mr. Breitsprecher & BreitLinks (www.breitlinks.com) All Rights Reserved Unit 3 Review: Functions of Marketing, page 3
2. If you use a 75% mark-up, what will be the selling price of an item that costs you $35?
3. If an item currently sells for $75, what will its selling price be if it is marked-down 25%?
4. If an item currently sells for $10, what will its selling price be if it is marked-down 20%?
5. If you use cost-plus pricing, adding 45% to your cost, what is the selling price of an item that costs
you $20?
6. If you use cost-plus pricing, adding 60% to your cost, what is the selling price of an item that costs
you $15?
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