Basic Marketing Concepts Review

Past research which has already been performed and often published is secondary research.

Marketing function where communication is informs, persuades, or reminds people about a product/service is promotion.

Which of the four tools of the marketing mix relates to shipping a product?

Gathering information from customers to improve satisfaction level of a product or service is market info. management.

Structured research which uses the scientific method and standardized questions to make generalizations and predictions

What marketing function is being addressed when a business improves its facility/venue?

Market planning, the process of setting marketing goals and devising a strategy to reach goals to maximize the profits.

Product Service Management is a marketing function that involves changes in design, producing, and improving products

Which of the following is NOT a marketing function?

Select three of the four tools of the marketing mix used to sell a product or service to meet consumer wants or needs?

All marketing decisions are affected by activities of a business, but business decisions aren't affected by marketing

Exploratory, in-depth research involving flexible, open-ended questions is quantitative research

Process is considered the Fifth P in an expanded marketing mix.

Financing is the  marketing function is being addressed when a business tries to gain funding for a project.

Distribution is the marketing function that involves the transporting, storing, and handling of goods to reach consumers

The planned, personalized communication intended to influence purchase decisions and usually face to face.

Research done first-hand for the first time is called secondary research.

Which of the following is a qualitative research method?

The most expensive marketing research for a business to engage in is primary .

Marketing efforts on people who love playing baseball, which method of segmentation did they use?

How much to charge to maximize profits is called price.

Mass selling can be part of and involves communication with large numbers of consumers at one time.

Communication used to inform, persuade, or remind people about a business’s products is what marketing function?

Creating brand awareness is an advantage of mass marketing?

Which type of business does the traditional marketing mix often limit?

Improving an existing product would be considered part of the “product” element of the marketing mix?

All activities that work together to get goods and services from producers to consumers is distribution.

Deciding where and to whom products need to be sold to reach the final users.

What marketing function involves obtaining the money needed to cover the costs of operating a business? 

Branding is the process of managing the identity and perception of a product or service.

Research on the internet to make marketing decisions for a new product a business is launching is using?

When a business agrees to give money in exchange for naming rights, signage, or other forms of communication.