Basic Marketing Concepts Review

What is the person who buys the product?

Marketing your product to everyone is called...

County Market and Walgreen's are open 24-7.  What utility does this relate to?

A combination of four strategies used to market a product is called...

use it up, fix it up, make it do, or do without

Which of the following purchases would most likely be made with discretionary income.

_______strategies deal with how and potential customers will be told about a new product?

The me generation

Understanding an ethnic group's religion is part of market segmentation

Which economic utility is not related to marketing?

What is defined as a customers personal satisfaction with a product

Hard workers

spend 20% of their money on food

In order to respond to your customers needs and wants, businesses must first know who their 

latchkey kids

Envision the world as a 24/7 place

Having Christmas items out by Halloween relates to this utility?

Product manuals and sales people relate to this utility

this income is after taxes is taken out

the money before taxes are taken out is called

empty nesters

Layaway plans relate to the utility

Observing social trends is part of the study of demographics

The Caucasian population is increasing, while other ethnic populations are decreasing. 

Age, gender, income and ethnic background 

very little interpersonal skills

In marketing terms, customers are the people who use the product.

Adding value to products through the marketing functions is called

A way of analyzing a market by specific characteristics in order to create a target market is

The value put on a good or service

Big Eds 24 hour diner recently began accepting Visa and Mastercard.

Determining how and where a product will be distributed

conservative spenders

Jon likes to go hunting and fishing on the weekend.  How would this market be segmented?