As prices for a product decrease

Supply Decreases & Demand Increases

What is niche marketing?

Products designed for specific people

Marketing segmentation is the act of

breaking down a mass market into groups that behave alike

Sells products or services directly to the consumer.

As prices for a product increase

Supply Increase & Demand Decreases

What do businesses do with relationship marketing?

They use it to build and maintain relationships with their customers

an attempt to appeal a large group of consumers.

Which of the following statements is most consistent with today's views on effective marketing?

"Learn about your customers and exceed their expectations."

Mass marketing is used to

Communicate to a large audience

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Marketing Review

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Questions 28

Answers

1
Total output of a country's goods and services for a particular period of time
Product Output
Total Product
Gross National Product
Gross Domestic Product
2
which is NOT a marketing concept
customer satisfaction
financing
profit
total company approach
3
The Pedigree Phil. host a Bark in the Park day where fans can bring their dogs to the game. What is this an example of?
Distribution
Promotion
Selling
Financing
4
When supply is greater than demand
Surplus
Equilibrium
Shortage
Overage
5
As prices for a product decrease
Supply Decreases & Demand Decrease
Supply Increase & Demand Decreases
Supply Increases & Demand Increases
Supply Decreases & Demand Increases
6
The people most likely to purchase your product
Market
Target Market
Audience
Focus Group
7
When demand exceeds supply
Shortage
Surplus
Equilibrium
Gap
8
What is niche marketing?
A product designed for adults
A product designed for children
A product designed for the public
Products designed for specific people
9
What is B2B?
Bread to Burger
Business to Business
Bagels to Beans
Bed to Breakfast
10
Segmentation based on age, gender, ethnicity, occupation, or income
Demographics
Geographics
Psychographics
Behavioral
11
What is the purpose of Concept testing?
All of the above
Estimate sales
Weed out bad concepts
To help develop the Idea
12
Marketing segmentation is the act of
breaking down a mass market into groups that behave alike
marketing to the masses
measuring the marketing mix or 4p's
slicing up the pie chart of market share
13
Competition in the market leads to
Higher Prices, Lower Quality
Lower Prices, Lower Quality
Lower Prices, Higher Quality
Higher Prices, Higher Quality
14
A B2B business is a business which?
Only sells to other businesses
Uses 90% outsourced produce
Only sells abroad
Makes no profit
15
What is B2C?
Sells products or services directly to the consumer.
An accounting term that refers to the amount of money a business has.
A set of activities designed to bring gradual improvement to products.
Offers goods or services directly to another business.
16
The point where the supply curve and the demand curve meet
Surplus
Shortage
Equilibrium
Intersection
17
Economic system where government makes the decisions
Command
Mixed
Traditional
Market
18
As prices for a product increase
Supply Increases & Demand Increases
Supply Decreases & Demand Decreases
Supply Decreases & Demand Increases
Supply Increase & Demand Decreases
19
Which of the following is most related to the marketing concept?
Satisfy Customers
Increase sales
Gain market share
Make a profit
20
Economic system promoting private enterprise where competition drives prices
Traditional
Mixed
Market
Command
21
Segmentation based on personal beliefs and hobbies
Behavioral
Demographics
Geographics
Psychographics
22
What do businesses do with relationship marketing?
They use it to keep distance from their customers
They use it to build and maintain relationships with their customers
They use it to deliver relationships
They use it to build and maintain close relationships with their customers
23
Segmentation based on where a potential customer lives
Behavioral
Geographics
Psychographics
Demographics
24
Mass marketing is
focuses on attitudes toward products/services.
an attempt to appeal a large group of consumers.
info that can be measured such as age and gender.
divides markets into physical locations.
25
Nike reviews data to determine trends and market opportunities for running shoes
Product Analysis
Information Analysis
Market Analysis
Advertising Analysis
26
The marketing mix consists of
product,price,place,promotion
place,promotion
price,place
product, promotion
27
Which of the following statements is most consistent with today's views on effective marketing?
"A good promotional campaign can sell anything."
"Find out what your competition does and do it better."
"There's a sucker born every minute."
"Learn about your customers and exceed their expectations."
28
Mass marketing is used to
Allow customers to sample products
Create a favorable image
Feature company in the news
Communicate to a large audience

Marketing Review Flashcards | StudBud