XI. Tick T (true) or F (false) sentences.

1. Marketing involves eight basic functions: buying, selling, transporting, financing, risk taking, and securing marketing information, storing, costing.

2. A single organization need not perform all of these functions; most often, some are handled by manufacturers and others by resellers.

3. A supermarket performs the function of buying a variety of goods to make them available in different places.

4. A retailer handles the function of transporting these products to the supermarket.

5. Buying and selling are exchange functions.

6. Physical distribution functions are the activities required to get products to the customers who want them, including transporting and pricing goods.

7. Standardization and grading ensure that products meet quality-control standards.

8. Financing involves providing shares to customers, so that they can meet their needs as they arise.

9. Risk taking includes developing and offering for sale products that customers have not yet committed to buying.

10. Information gathering involves collecting information about producers, competitors, and other relevant subjects.

11. The most effective way to carry out the marketing functions is for marketers to start by planning what they want to accomplish and how they will do it.

12. Marketing strategy planning means finding attractive opportunities and developing creative marketing strategies.

13. A marketing strategy specifies a competitive market and a related marketing mix.

14. A marketing mix — the controllable variables the company puts together to satisfy this target group.