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Intro to Business - Chapter 11: Effective Marketing Flashcards | StudBud
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Intro to Business - Chapter 11: Effective Marketing
Intro to Business - Chapter 11: Effective Marketing
15 terms
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StudBud Administration
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226 plays
This QUIZ covers the Marketing Mix and SWOT Analysis concepts
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
The 3 P's of the
EXTENDED
Marketing Mix include...
people
place
process
physical evidence
2
Branding and Brand Loyalty refer to all of the following
EXCEPT
regardless of the price, you're buying your FAV brand
having to buy a certain brand over any other, no matter what
always buying a different brand
always buying a specific brand of a product
3
Discretionary income is...
your money leftover after paying all your obligations
net OR take home income
income LESS taxes, savings, food, clothing, and housing
gross income
4
Marketing adds value by creating several forms of
UTILITY
. They include which of the following?
Possession utility
Place utility
Time utility
Form utility
5
In a SWOT Analysis, which elements are
INTERNAL
factors
Weaknesses
Threats
Opportunities
Strengths
6
A target market is
a market with targets on their backs
the process of dividing a market into segments
a group within a market that share one or more common things
a group for which a business focuses its marketing mix
7
All are elements of the
BASIC 4 P's
Marketing Mix
EXCEPT
Production
Price
Place
Product
8
Market
segmentation
is
directing a marketing mix at a specific segment of a market
target market
the process of dividing a market into segments
marketing strategy
9
An approach to
collecting MARKET information
is called
working with your technology department
getting government information
hiring a marketing specialist
conducting marketing research
10
When managing
customer relationships
within a business,
CRM
stands for...
Company Recruiting Marketing
Customer Relationship Management
Credential Resource Management
Credit Recovery Management
11
All are elements of a SWOT Analysis
EXCEPT
Strengths
Time
Weaknesses
Opportunities
12
Common types of
market segmentation
include...
demographic
psychographic
behavioristic
geographic
13
Sales Forecasting and Market Measurement are used for
defining the geographic boundaries of the sales forecast
evaluating how your marketing efforts are working
helping to decide how best to allocate marketing resources
identifying a relevant time frame covered by the forecast
14
Building good customer relationships can be accomplished by
consistently providing a good product or service
consistently re-evaluating and looking for ways to improve
going above and beyond to create happy, satisfied customers
consistently providing customers w/ quality customer service
15
The ingredient of the marketing mix concerned w/ providing product
INFO
to the target market is
place
price
product
promotion
