A customer and a consumer are different because

Customer buys, consumer browses.

The 4 P's of Marketing are:

Product, Place, Price and Promo

All potential customers who are willing to buy a product

The marketing concept is:

focuses on satisfying the needs and wants of customers

Financing as a marketing function

helps people pay with options like 0% interest

Has the financial stability to sustain

Toilet paper is marketed towards everyone

False, we all use it but we don't all buy it

By understanding these strategies, you can help make sure your business makes money:

Market share, Market position and market potential

Marketing Segmentation is

Grouping people with similar lifestyles, age groups & income

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Marketing Unit 1 Review

20 termsStudBud Administration68 plays

Review of Marketing, Marketing Concepts, Functions and Target Market

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Questions 20

Answers

1
A customer and a consumer are different because
Customer browses, consumer browses.
Customer buys, consumer buys.
Customer browses, consumer buys.
Customer buys, consumer browses.
2
The 4 P's of Marketing are:
Product, Place, Price and Promo
Place, Plan, Price and Promo
Product, Plan, Price, Promo
Prepare, Plan, Price and Product
3
Price competition is:
Walmart vs. Target
Walmart vs. Citibank
Macys vs. Walmart
Walmart vs. McDonald's
4
One example of positioning by feature is
Walgreens brand vs. Colgate
whitening toothpaste
putting items in categories
selling items at low prices
5
An exchange relationship is giving and receiving something of value.
False
True
6
Target Market
The people that shop at Target
A group to target
Target's food area
All potential customers who are willing to buy a product
7
The marketing concept is:
focusing on satisfying needs & wants of customers & business
None of the above
focusing on satisfying the needs and wants of the business
focuses on satisfying the needs and wants of customers
8
There are 4 marketing functions such as Distribution and Market Research
False
True
9
Psychographics is:
Lifestyles and attitudes
How much you make
None of the above
Where you live
10
Benefits of competition include
improved products and different varieties
low prices and new products
Losing customers
Both 1 & 2
11
Identifying target market helps save money on promoting to the wrong people.
True
False
12
Marketing Intelligence
All of the above
Reviewing sales reports
Going to Trade Shows
Gains competitive market information
13
Which of the following is not an example of promotion?
Coupons
Commercials
Paying for the item
Billboards
14
Financing as a marketing function
Makes sure the product gets to the customer
Creates improved products
helps people pay with options like 0% interest
Researches customers wants
15
A true market
Is a true friend
Has the financial stability to sustain
sells items
is real
16
Which can marketing promote?
All of the above
Services
Goods
Ideas
17
Toilet paper is marketed towards everyone
True, we all use it!
False, we all use it but we don't all buy it
18
By understanding these strategies, you can help make sure your business makes money:
Distribution and Research
Market share, Market position and market potential
Advertising and financing
Sales and Discounts
19
Marketing Segmentation is
Figuring out what to sell to people.
Describing a group based on age, income and gender
Grouping people with similar lifestyles, age groups & income
Breaking a group up based on where they live
20
Direct Competition is:
Macys vs. Toyota
Toyota vs. Honda
Toyota vs. Land Rover
Toyota vs. McDonald's

Marketing Unit 1 Review Flashcards | StudBud