Marketing plans Unit 1

Question 1

The idea that a business should strive to satisfy customers' needs & wants while making profit

Accepted Answer

Market concept

Question 2

Involves gathering storing, analyzing information about customer, trends, & competing products

Accepted Answer

Marketing Information Management

Question 3

Involves understanding the concepts and strategies used to develop strategies to a market

Accepted Answer

Market planning

Question 4

Using the same marketing strategy to reach all of your target markets

Accepted Answer

Mass marketing

Question 5

Understanding the balance of supply and demand is an example of which function

Accepted Answer

Pricing

Question 6

To inform, persuade or remind customers about a product

Accepted Answer

Promotion

Question 7

Money left over after taxes

Accepted Answer

Disposable income

Question 8

When buying a toy for a child, the parent is the

Accepted Answer

Customer but not the consumer

Question 9

Having products available when consumers want them is an example of

Accepted Answer

Time Utility

Question 10

What does PEST analysis stand for

Accepted Answer

Political, Economic, Socio-Cultural, Technology

Question 11

Marketing to a business instead of a consumer is known as

Accepted Answer

A&C

Question 12

Can you have more than one target market

Accepted Answer

Yes

Question 13

What are the three C's in a SWOT analysis

Accepted Answer

Company, Customer, Competition

Question 14

Owners manuals on a website are an example of

Accepted Answer

Information utility

Question 15

Adding electronic controls on the steering wheel is an example of what utility

Accepted Answer

Form

Question 16

Strengths and weaknesses in a SWOT analysis focus on

Accepted Answer

Internal

Question 17

The process of classifying people who form a given market into even smaller groups

Accepted Answer

Market segmentation

Question 18

Statistics that describe a population in terms of personal characteristics

Accepted Answer

Demographics

Question 19

Using market research to develop and maintain your product.

Accepted Answer

Product management

Question 20

Technique to get consumers to think of a product in a certain way

Accepted Answer

Positioning

Question 21

Allowing consumers to use a lay away plan is an example of

Accepted Answer

Possession Utility

Question 22

Involves the study of consumers based on lifestyle, and attitudes and values that shape it

Accepted Answer

Psychographics

Questions 22