Marketing Midterm Review

Co. sees younger people moving out away, need home-health care factor present for product opp.

international trade a quota is limit on the # or monetary value of product that can be imported

In addition to people (target market), what are the elements of the marketing mix?

determining the best way to get a product to the customer

Action most appropriate for a busn to take when competition intro similar product to the mktplc

The owner of a hair salon provides her customers with?

"Buy one get one free” would be an example of distribution

The output per worker hour defined over a measure of time is

difference in value between exports and imports

Which are types of products for which producers are most likely to use mass marketing

Marketing function affects how product will sell & amount of money business will make?

Form, place, time, possession, and information are types of economic

obtaining, developing, or improving a product

product, price, place, promotion

percentage of total sales generated by competing companies

Which of the following is one of the global marketing strategies

Trademark protects a company’s invention from being used by another company without permission.

A _______ is an intellectual property protection that protects written work a book or a song

Adaptation and customization are examples of mass marketing on a global scale.

Selling winter outdoor gear through catalogs mailed to skiers & snowboarders is place utility.

The United States currently has a trade surplus.

People who share similar needs and wants and who can purchase your products are called a market

marketing function that helps businesses obtain money they need to build or expand their comp

providing customers with the goods and services they want

tangible items

Disney’s cartoons would be an example of a product that is copyrighted.

What are recurring changes in economic activity called?

3 major types of global marketing strategies are globalization, customization, and ______.

limits either the quantity or the monetary value of an imported product

What is the organized way a nation provides for the needs and wants of its people?

Pottery comp sell its coffee mugs at Starbucks and DD. What type of marketing decision was this

____________ protect a company from another company taking their slogan or logo.

purchasing goods from a foreign country

use of a trademark, patent, company name for a fee

A nation experiences a trade surplus when it exports more than it imports.

Resource scarcity forces nations to make economic choices.

People who share similar needs & wants & who have ability to purch a given product is a market.

In economic terms, land, labor, and capital refers to

When a co obtains a ___ it protects their invention from being made by another co for 20 years.

In a market economy, who decides whether a business will survive or fail?

A good example of a trade secret would be

In addition to demographics, what other three factors can be used to define a target market?

Demographic characteristics help define a __________ market.

Command economy, individual consumers decide what items will best satisfy their wants and needs

total ban on specific goods coming into and leaving a country

The United States doesn’t allow any trade between our country and Cuba. This is an example of

goods and services sold to other countries

A country’s infrastructure includes its sewers, highways, and phone lines.

Which of the following is one of the global marketing strategies?

the added value of a product in economic terms

are type of products which producers will use mass marketing

deciding how much to charge for goods and services

Infrastructure would fall under the _______ factor of production.

is govt establishes economic policies restrict imports in order to protect domestic industries

A marketing concept list info such as ethnic background age income level & geographic location.

When fast food restaurants began accepting credit cards, which economic utility increased?

What is the organized way a nation provides for the needs and wants of its people?

Land, labor, capital, and entrepreneurship are the four factors of production.

In economic terms, land, labor, and capital refers to…