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Marketing and the Marketing Concept Flashcards | StudBud
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Marketing and the Marketing Concept
What is the marketing concept?
What is channel management?
Marketing and the Marketing Concept
10 terms
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StudBud Administration
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A #rad introduction to #DECA Chapter 1.1
Flashcards
10 cards
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Questions
10
Answers
1
What is channel management?
getting goods to a customer
getting goods to family members
getting goods from producers
2
What is the marketing concept?
customers get exactly what they want no matter the price
the business's strive to satisfy customers needs and wants
generating a profit for the business
services to create exchanges that satisfy customers
3
What are two of the seven marketing core functions?
buying and managing goods
channel management and marketing planning
marketing and growth economics
product leadership and environmental goods
4
By using CRM, companies are better to understand customers' what?
Doggies
Favorite restaurant
Purchasing patterns and demographics
Buying and selling trends
5
What does CRM stand for as defined by DECA?
Call Ricky Moss
Concept of Relative Money
Customer Relationship Management
Cost Ratio Management
6
Effective communication between a company and its customers helps to keep...?
Voices working
Customers satisfied and increase profit
Updated machinery
Customers happy
7
What is market planning?
Understanding concepts for your target audience
How much to charge to make a product
Understanding the cost of your product
Planning for the world market
8
Intangible items that have monetary value and satisfy your needs and wants are
goods
customers
products
services
9
Is it important that a company can post using social networking to promote new products?
Possibly?
No
ABSOLUTELY NOT!
Yes
10
Why is promotion important?
To change the product in response to the market
Gives customers the products and services they want
Paying your valuable employees more money
To get customers to know about your products
