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Marketing Terminology Flashcards | StudBud
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Marketing Terminology
Marketing Terminology
15 terms
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Test your knowledge on key marketing terms and concepts
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
An intangible want or need is satisfied by a __________.
Product
Service
Demand
Strategy
2
Ms. Wulf's favorite cany is
She doesn't eat candy
Twix
Peanut Butter M&M's
Sour Patch Kids
3
Select a synonym for 'brand'
Price
Ability
Promotion
Identity
4
What is 'market segmentation'?
Increasing market size
Reducing market competition
Merging markets
Dividing market into groups
5
What is a 'target market'?
Random customers
Competitors
Specific audience
All consumers
6
A _____ sells to a retailer. A retailer sells to a _____.
Wholesaler, Customer
Segment, Consumer
Market, Supplier
Customer, Wholesaler
7
If demand does NOT change when price fluctuates that means it is
Elastic
Advertising
Promotion
Inelastic
8
A strategy where a company supports an event, individual, or organization in exchange for visibility and brand awareness
Advertisment
Sponsorship
Retailer
Selling
9
Which of the following is paid information to inform or persuade customers to purchase via media channels?
Advertising
Target market
Sponsorship
Wholesaler
10
Bob's favorite coffee brand increased their price by 9%, so he decided to purchase the generic brand. Demand is ______.
Segmented
Increasing
Elastic
Inelastic
11
What is 'market research'?
Setting product prices
Launching new products
Advertising campaigns
Gathering market information
12
Competition is rival businesses offering similar P/S to the same target audience battling for __________.
Elastic demand
Price
Discounts
Market share
13
True or false: A company's focus or approach to marketing (quality, customer needs, etc.) is their marketing orientation
True
False
14
By focusing on the following strategy, a company could best generate new customers.
Loyalty program
Discounts for repeat customers
Hiring within the company
Increasing brand awareness
15
Which defines 'brand loyalty'?
Product's quality
Brand's market share
Company's reputation
Customer's consistent preference
