S & E Chapter 1 Questions

Competition that is based on price follows the concept of this and available substitutes 

which of the following is a type of business ownership

The economics of marketing S&E have a great impact globally as well as locally

 foundation of S&E marketing is a marketing plan with strategies that have specific consumers

struggle among companies for customers

route a product takes from the producer to consumer

idea that organizes need 2 satisfy their customers while trying 2 reach their organization goal

form of business ownership

sporting events and entertainment venues economically impact areas in which they operate

hosting the Olympics creates a big economic impact on a region before during & after the event 

money left after all costs and expenses of a business are paid

value of all goods and services produced within a country

which of the following is part of the marketing process

potential customers with shared needs who have the desire and ability to buy a product

The way the product is designed named &packaged has little effect on the success of the product

specific group of consumers that an organization selects as the focus of its marketing plan

Which is apart of the marketing mix?

profit is what companies that own sports teams have after paying their players

sports and entertainment industries are the 2 of the most profitable industries in the U.S.

 is the study of choices&decisions that affect making distributing & using of good and services

U R apart of a target market if a organization has picked u as the focus of its marketing plan 

before businesses made target markets to promote their products this strategy was more common

when businesses show this they are contributing to the GDP

statistics that describe a population in terms of personal characteristics 

process of developing promoting products that satisfy customers needs and wants

organizations spend lots of money to learn about this

Which of the following protects property ownership and intellectual property rights

To be profitable businesses must focus their efforts on the customers needs and wants

this type of decision involves how the goods or services are communicated to the customer

Marketers rely on the GDP figures to plan their yearly budgets