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Marketing Is All Around Us Flashcards | StudBud
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Marketing Is All Around Us
Marketing Is All Around Us
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Questions
20
Answers
1
True/False: Organizational market includes some businesses that buy products for use in their operations.
True
False
2
What does the term ‘market’ refer to?
People who invented a product
People who sold a product
People who have already bought a product
People who might buy a product
3
Which of the following is NOT something you have to understand to be a successful marketer?
Basic tools of marketing
Marketing formulas memorized
Marketing core functions
Marketing skills
4
What is the main difference between a consumer market and an organizational market?
Who the products are for/go to
The price at which products are bought
How much product is bought
The price at which products are sold
5
True/False: Goods are tangible items.
False
True
6
Which utility is having a product where customers can buy it?
Place Utility
Time Utility
Possession Utility
Form Utility
7
What is the goal of market segmentation?
To identify competition
To identify organizational markets
To identify target markets
To identify consumer markets
8
True/False: Target market is the group of people that are most likely to not become customers
False
True
9
What are the four P’s of the Marketing Mix?
Product, Place, Price, Promotion
People, Profit, Place, Product
Product, People, Personality, Popularity
Price, Profit, Popularity, Property
10
What is "A company's percentage of the total sales volume generated by all companies that compete in a given market"
Marketing Mix
Marketing Concept
Utilities
Market Share
11
True/False: The marketing mix is a combination of elements used to produce a product for a specific target market.
True
False
12
Which one is a part of Customer Relationship Management (CRM)?
Consumer Market
Information Utility
Target Market
Customer Service
13
True/False: Services are tangible items that have monetary value and satisfy one’s needs and wants.
False
True
14
True/False: The marketing concept only deals with needs and not wants/desires
True
False
15
True/False: Consumer market is consumers who purchase goods and services for personal use.
False
True
16
The Scope of Marketing deals with all of these concepts except which one?
Ideas
Services
Promotions
Goods
17
True/False: Marketing professionals track trends and consumer attitudes to understand buying decisions
True
False
18
True/False: The purpose of a customer profile is to obtain information about the target market
False
True
19
True/False: Marketing supports competition and offers benefits to consumers
True
False
20
A customer profile has information about which market?
Target Market
Competition Market
Organizational Market
Consumer Market
