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Ch 1 - Marketing is all around us Flashcards | StudBud
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Ch 1 - Marketing is all around us
Ch 1 - Marketing is all around us
20 terms
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StudBud Administration
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Review of basic marketing terms and concepts
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
What is the MAIN goal of the Marketing Concept?
To satisfy customers while still making a profit
To satisfy customers
To generate sales
To make a profit
2
What is a customer profile?
Groups of people identified for a specific marketing program
People with specific characterisitc
A detailed list such as age, gender, income of the customer.
% of total shares generated by all the co in the field
3
What is a consumer market?
Consumers who purchase goods and services for personal use
Businesses that buy products for use in their operations
The % of total sales volume generated in the same market.
People who share similar needs and can buy products
4
The following is an example of what marketing core function?
Pricing
Selling
Promotion
Marketing Planning
5
What is the BEST reason why marketing is important to our society?
It creates more businesses
It raises our standard of living
It keeps our National Income stable
It decrease employment
6
Selling is a part of marketing that deals with
persuading customers to buy the product
offering a variety of products to stimulate demand
producing products which stimulates demand
making a huge profit
7
The following graphic is an example of what marketing concept?
Market Profile
Market Share
Market Segmentation
Target Market
8
Marketing mix is the choices organizations have to make in order to bring the product to market
True
False
9
What are the 4P's of Marketing?
Product, Place, Price, Promotion
Product, Position, Price, Place
Product, Price, Promotion, Packaging
Purchase, Product, Price, Place
10
Which of the following is NOT a core marketing function?
Pricing
Manufacturing
Promotion
Selling
11
The image shown is an example of what marketing core concept?
Selling
Product Management
Market Planning
Channel Management
12
How does marketing create NEW and IMPROVED products?
None of the above
It increases competition
It creates demand
It adds value in economic terms
13
What does marketing sell?
all of the above
ideas
services
goods
14
Marketing creates exchanges to satisfy customers.
True
False
15
Identifying the target market correctly is an important key to success for any business!
False
True
16
The marketing definition is always changing over time.
True
False
17
A new way of doing something or producing something would be an example of an idea.
True
False
18
What is an organizational market?
Consumers who purchase goods and services for personal use
People who share similar needs and can buy products
Businesses that buy products for use in their operations
The % of total sales volume generated in the same market.
19
Services are intangible items.
True
False
20
What does CRM help to understand?
Customers purchasing patterns
Customers demographics
All of the above
Who the customers are
