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Marketing Chapter 4 Flashcards | StudBud

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The final stage of the decision making process, the consumer

What is a market mix

Marketing Chapter 4

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marketing concepts

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Questions 10

Answers

1
What is a market mix
using only one marketing element
blending all 4 marketing elements
blending 3 of the marketing elements
many different products
2
The final stage of the decision making process, the consumer
makes a choice of the best alternative
may decide not to make a purchase
assesses whether or not the choice made was correct
gathers information about the price
3
Which is not one of the 4 "P"'s of marketing
place
price
participant
promotion
4
Define pure competition
you are the only business offering the product
many businesses offering the same product
5
New markets and ways to improve a company's offerings in current markets are know as
marketing experiences
innovations
marketing concept
market opportunities
6
A oligopoly is when
many companies competeing in the market
only a few companies competeing in the market
there is no competition in the market
government involvement in the company
7
The marketing mix element that does not create economic utility by itself is
product
promotion
place
price
8
Which of the following is evidence that a business is using the marketing concept?
studying the market
believing they know what customer wants
using only a few marketing tools
being concerned only about the product or service
9
What is the first step in the decision making process
research
identify possible products
recognize a need
have prior experience with products
10
The earliest use of marketing was to
conduct marketing research
used to advertise
identify new market opportunities
move products from producer to the consumer