Marketing 1 Test 1 - Standards 1, 2, 3, & 5

If you're not going forward, you're going

This takes place every time something is sold in the marketplace

5 Types of Utilities - Having a product Where customers can buy it

5 Types of Utilities - Any Communication with the customer

The 5th and 6th P are:

True or False - The more payment options you give a customer, the more likely they are to buy.

What does Tangible mean?

What are the 2 types of products

Why is customer satisfaction so important?

Using a single market strategy to reach all customers is called

Marketing Function? Building a warehouse to reach customers quickly

5 Types of Utilities - Having a product available at a certain Time of day or year

4 Ways to Segment a Market - Benefits Desired by Consumers

Marketing Function? 30% off Summer Clearance Event.

Marketing Function? Putting a pair of shoes on customer and asking how they feel?

The group of people most likely to become a customer

Marketing starts with an

A Niche Market is:

Market Share is

4 Ways to Segment a Market - Personal Characteristics

Which of the following is not an Economic Benefit of Marketing

An example of an intangible product is

Marketing Function? Applying for a loan.

4 Ways to Segment a Market - Where People Live

What does Utility mean?

The process of classifying customers by needs and wants

Marketing is 

A Customer__________________ a product

It is important for businesses to build long-term relationships with customers.

In order for a product to succeed, the 4 P's must be directed toward _________

True or False - It is cheaper and easier to keep a current customer than to find a new one.

Marketing IS

A Market most resembles which word:

5 Types of Utilities - Deals with Making or Producing Things

4 Ways to Segment a Market - Attitudes, Lifestyles, and Values

An example of a Niche Market is

A Consumer ________________ a product

If you get the 4P's Correct, you will be successful!

Which of the following is not one of the 4 P's

The idea that a business should strive to meet customer needs and wants while making a profit