What are the 4 roles does marketing play in the economy?

Competition, Lower Price, Improved Product, & More Efficient

What are the 5 economic utilities?

Form, Place, Time, Possession, and Information

What is place utility?

Having a product where a customer can buy it

Are opportunities and threats internal or external, and what do they analyze?

I Competition, Politics, Economy/Socio Culture Factors, Tech

Gathering info on customers, trends, and competitors is an example of which core function?

Marketing Information Management

What is form utility?

Changing raw material into usable goods

Are strengths and weaknesses internal or external, and what do they analyze?

I Company/Customer Analysis, Competitive Position

The ways of getting goods into customers hands is what function of marketing?

Channel Management/Distribution

What is time utility?

Having a product or service available year round

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Quarter 1 Marketing Quiz

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Quarter 1

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Questions 25

Answers

1
What is information utility?
Changing raw material into usable goods
Having a product where a customer can buy it
Having a product or service available year round
Communicating with a consumer
2
What are the 4 roles does marketing play in the economy?
Product, Price, Place, & Promotion
Form, Place, Time, & Possession
Competition, Lower Price, Improved Product, & More Efficient
Inform, Persuade, Remind, & Finance
3
How many core marketing functions are there?
4
7
3
10
4
What are the 5 economic utilities?
Land, Labor, Capital, Infrastructure, and Entrepreneurship
Product, Price, Place, Promotion, and Efficiency
Form, Place, Time, Possession, and Information
Profit, Competition, Price, Distribution, and Productivity
5
What involves segmenting or breaking down groups into smaller clusters?
Marketing Information Management
Competition
Target Market
Market Segmentation
6
What are the 3 goals of promotion?
Inform, Persuade, and Price
Compete, Persuade, Remind
Inform, Persuade, Remind
Inform, Finance, and Remind
7
What is place utility?
Exchanging products for money
Having a product or service available year round
Communicating with the consumer
Having a product where a customer can buy it
8
What is understanding concepts to target specific marketing strategies to a specific audience?
Selling
Pricing
Market Planning
Promotion
9
What marketing mix strategy involves the exchange of products?
Promotion
Place
Product
Price
10
Are opportunities and threats internal or external, and what do they analyze?
I Competition, Politics, Economy/Socio Culture Factors, Tech
E Competition, Politics, Economy/Socio Culture Factors, Tech
I Company/Customer Analysis, Competitive Position
E Company/Customer Analysis, Competitive Position
11
Gathering info on customers, trends, and competitors is an example of which core function?
Pricing
Market Planning
Product/Service Management
Marketing Information Management
12
What are product, price, place, and promotion part of?
Marketing Mix
Core Functions of Marketing
Economic Utilities
SWOT Analysis
13
What is possession utility?
Communicating with a consumer
Exchanging products for money
Changing raw material into usable goods
Having a product where customers can buy it
14
What is obtaining, developing, maintaining, and improving a product known as?
Channel Management/Distribution
Product/Service Management
Selling
Marketing Information Management
15
What is the acronym for strengths, opportunities, threats, and weaknesses
TOWS Analysis
OWTS Analysis
SWOT Analysis
STOW Analysis
16
What is form utility?
Changing raw material into usable goods
Exchanging products for money
Having a product or service available year round
Having a product where customers can buy it
17
Are strengths and weaknesses internal or external, and what do they analyze?
I Competition, Politics, Economy/Socio Culture Factors, Tech
I Company/Customer Analysis, Competitive Position
E Competition, Politics, Economy/Socio Culture Factors, Tech
E Company/Customer Analysis, Competitive Position
18
What marketing mix strategy involves deciding what product to make and sell?
Product
Place
Promotion
Price
19
Figuring out what customers are willing to pay is what function of marketing?
Promotion
Pricing
Selling
Competition
20
The ways of getting goods into customers hands is what function of marketing?
Channel Management/Distribution
Product/Service Management
Selling
Marketing Information Management
21
What marketing mix strategy involves informing, persuading, and reminding?
Place
Product
Price
Promotion
22
Providing the customer with goods and services they want is what core function?
Selling
Pricing
Competition
Channel Management/Distribution
23
What is the group that is identified for a specific marketing program?
Marketing Segmentation
Target Market
Customer Profile
Competition
24
What is time utility?
Communicating with a consumer
Having a product or service available year round
Exchange of products for money
Changing raw material into usable goods
25
What marketing mix strategy involves getting a product into a customer's hands?
Promotion
Place
Price
Product

Quarter 1 Marketing Quiz Flashcards | StudBud