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Review Chapter 1: Marketing Basics Flashcards | StudBud
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Review Chapter 1: Marketing Basics
Review Chapter 1: Marketing Basics
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Chapter 1 & 2 of marketing essentials textbook #marketing #targetmarket #marketingconcepts
Flashcards
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Questions
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Answers
1
Window displays communicate information about a product to consumers. What utility is this?
time
information
selling
form
2
Informing, persuading, or reminding customers about your goods/services is called
pricing
selling
swindling
promoting
3
What is entities who buy goods and services for some other use than personal consumption.
Organizational Market
B2C Sales
Market Segment
None of the following
4
Which utility of marketing is sharing features and details to ensure consumer satisfaction?
Time
Place
Possession
Information
5
What are the components of the Marketing Mix?
Product, place, profit, promotion
Price, promotion, people, product
Promotion, people, product, place
Place, product, promotion, price
6
The goal of marketing is to?
create employee empowerment
instigate competitiion
reduce prices
meet the customer's needs and wants
7
American Eagle posts new pictures of their fall sweaters on Instagram
Market Planning
Selling
Marketing Information Management
Promotion
8
Target market decisions include?
marketing strategies are directed to a specific group
where a product is sold
decisions about advertising, personal selling, and publicity
what customers are willing and able to pay
9
The marketing concepts states that businesses should meet the needs/wants of customers and make
products
mistakes
balloon animals
a profit
10
Place decisions include?
where a product will be sold
how a product will be distributed
decisions about advertising and personal selling, publicity
what customers are willing and able to pay
11
The following are all benefits of marketing except
Added value
Lower satisfaction
New and improved product
Lower prices
12
KFC recently remodeled improving their overall image and product delivery.
Market Planning
Product/Service Management
Promotion
Market Information Management
13
Companies use this when they see what customers buy and alter their sales based on it
SWOT Analysis
target market
consumer analysis
differentiation
14
Providing customers with goods and services they want to buy is known as
Product Planning
Advertising
Distribution
Selling
15
Which of the following utilities involves making products?
Place Utility
Information Utility
Possession Utility
Form Utility
16
Which Marketing Function focuses on obtaining the money to run the business?
Business Services
Finance
Channel Management
Customer Relationship Management
17
Involves changing raw materials into usable goods to make them more useful
utility
time
form
place
18
How many functions of marketing are there?
3
9
8
7
19
When Jan finished her stay, she completed a survey of the hotel. What core function is this?
Product Planning
Place Utility
Marketing Mix
Marketing Information Management
20
What economic utility increased when fast-food restaurants began accepting credit cards?
Information Utility
Possession Utility
Place Utility
Form Utility
21
What part of the marketing mix involves the types of brands & support services offered?
price
product
promotion
place
22
What is target market?
The group of people that doesn't like the product.
The group that a business desires to have as customers.
The group of people that desire to have the product.
The group of people that like the product.
23
How many benefits (in general) result from marketing?
Five
Unlimited
Seven
Three
24
Price is?
advertising, personal selling, sales promotion and publicity
match the markets needs
what customers are willing to pay
focuses on a marketing plan
25
Part of this function includes creating a marketing plan
Promotion
Marketing Information Management
Market Planning
Channel Management
26
Target marks down all swim suits in August.
Market Information Management
Channel Management
Pricing
Promotion
27
What are the functions of marketing?
Pricing, selling, and product/service management
Marketing information management and promotion
All of the above
Distribution and financing
28
Trends in marketing include?
social networking
all of these
viral marketing
content marketing
29
A person who buys goods or services.
competition
market
consumer
producer
30
Parts of a brand include?
All of the above
Logo
Brand Name
Slogan
31
Which of the following is a service?
an elliptical trainer machine
fitness center
vitamins and supplements
gluten-free cereal
32
Bob asked his mom to buy him Cocoa Puffs after watching a TV ad. What group does he belong to?
A possession utility
A target market
A consumer group
A customer segment
33
Which is term used for developing and maintaining relationships with customers?
selling
short term relationship
Customer relationship management
customer rewards programs
34
What does a miniature golf business provide to its customers?
Information Utility
A Service
An Exchange
Product Planning
35
having products available when consumers want them
place
possession
time
information
36
involves having products where customers can buy them
place
form
time
information
37
B2B sales?
buying to business
billing to business
business to business
broadcasting to business
38
Frequent buyer rewards cards are known as?
discount incentives
loyalty programs
redemption programs
free products
