stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Marketing Concepts Flashcards | StudBud
Explore
/
Marketing Concepts
What are Trends in the context of marketing?
What is Mass Marketing?
Marketing Concepts
25 terms
·
StudBud Administration
·
27 plays
Imported from external platform
Flashcards
25 cards
F
Practice quiz
P
Host live
L
Questions
25
Answers
1
What is Mass Marketing?
Targeting niche markets with specialized products
Using personalized marketing efforts
Applying marketing strategies to a heterogeneous group of consumers
Applying marketing strategies to a specific market segment
2
What are Trends in the context of marketing?
Changes in households, the economy, politics, and personal attitudes
Long-term business strategies
Static patterns in consumer behavior
Fixed consumer preferences
3
What are Emergency Products?
Items bought out of habit and routine
Products purchased based on brand loyalty
Items bought out of habit and routine
Items bought
4
What are Convenience Products?
Items of necessity, people do not want to spend a lot of time, money buying
High-end products bought with great deliberation
Products that are purchased in emergencies
Products that are bought infrequently & involve significant decision-making
5
What is Disposable Income?
Money left after taxes are taken out of paychecks
Money left after basic living expenses have been paid
Money saved for long-term investments
Money allocated for luxury goods
6
What are Generation X individuals known for in terms of marketing?
Focusing primarily on health and wellness products
Being media savvy & big spenders in cosmetics, electronics, & entertainment
Growing up in a computer-dense environment
Having a high disposable income
7
Who is a 'Customer' in marketing terms?
The person who manufactures the product
The person who buys the product
The person who promotes the product
The person who uses the product
8
Which generation was born between 1946-1964 and having an interest in products related to aging populations?
Generation X
Generation Y
Baby Boom Generation
Millennials
9
What does Marketing Information Management involve?
Managing market information to maximize business decisions
Enhancing distribution networks
Conducting market research surveys
Developing new product features
10
What is the main objective of Selling in marketing?
To analyze market trends
To provide consumers with the products and services they desire
To create promotional content
To develop new products
11
What does Promotion involve in marketing?
Managing business finances
Analyzing market data
Developing new products
Applying promotional techniques to potential customers
12
What defines Unsought Products?
Items customers already know they want or need
Products that are purchased regularly without much thought
Item customer do not yet know they want or need; promotion raises awareness
Products that are immediately needed in emergencies
13
What are Metropolitan Statistical Areas (MSAs) used for?
Creating promotional content
Analyzing global market trends
Identifying new product opportunities
Distributing federal aid and targeting consumers
14
What does 'Consumer' refer to in marketing?
The person who buys the product
The person who uses the product
The person who designs the product
The person who sells the product
15
What is the focus of Product/Service Management?
Increasing marketing budget
Conducting customer surveys
Managing distribution channels
Developing, improving, and maintaining a product mix
16
What are Impulse Items?
Items bought in bulk during sales promotions
Products bought based on thorough research and planned purchases
Products bought based on thorough research and planned purchases
Products that require significant investment
17
What is Segmentation in marketing?
Analyzing global market trends
Developing products for diverse customer groups
The process of creating a single marketing strategy for all customers
Clustering people with similar needs into market segments
18
What does the Marketing Concept emphasize for a business to remain competitive?
Reducing product prices
Satisfying customer needs and wants
Expanding to new markets
Increasing production efficiency
19
What does Financing refer to in the context of business operations?
Increasing sales through promotions
Managing customer relationships
Developing new marketing strategies
Obtaining the money necessary for business operations
20
What is Distribution in marketing terms?
Pricing products for maximum profit
The process of developing new products
Creating promotional strategies
Using channels to get products to consumers
21
What defines a Market Segment?
A segment based on product features
A broad group of all potential customers
A specific group of consumers responding to the same marketing mix
A market group with varied responses to marketing efforts
22
What does Discretionary Income refer to?
Money spent on essential goods
Money left after taxes are taken out of paychecks
Money allocated for savings and investments
Money left after basic living expenses have been paid
23
What is the primary goal of Pricing in marketing?
To increase brand awareness
To maximize profit
To lower production costs
To expand the product line
24
What does Disaggregate mean in marketing?
To increase the scope of marketing activities
Reduce the marketing focus to product-market areas w/ competitive advantage
To standardize marketing strategies across all markets
To combine multiple product lines into one category
25
What is Target Marketing?
Applying marketing strategies to a heterogeneous group of consumers
Applying marketing strategies to a fairly homogeneous group of consumers
Developing products for broad consumer appeal
Focusing on mass marketing efforts
