Marketing Standard 1 Review

Question 1

Obtaining, deve, maintaining, and improving a product in response to market opportunities is

Accepted Answer

Product/Service Mgmt.

Question 2

Responding to consumer needs & wants through planned, personalized comm. to influence purchases

Accepted Answer

Selling

Question 3

The effort to inform,persuade,&remindcurrentand potential customers about a business’productsis

Accepted Answer

Promotion

Question 4

Segmenting a market based on age, gender, income, ethnic background, education, and occupation.

Accepted Answer

Demographics

Question 5

Which utility is not considered "marketing?"

Accepted Answer

Form

Question 6

analyze customers with regard to sales generated, shopping patterns, and purchases

Accepted Answer

Behavioral

Question 7

The Process of deciding how to get goods into customers hands is

Accepted Answer

Channel Mgmt.

Question 8

All potential customers who have the ability and willingness to buy a product

Accepted Answer

Market

Question 9

Customers are people to actually USE the products they buy

Accepted Answer

False

Question 10

Process of subdividing a market into distinct subsets of customers that behave in the same way

Accepted Answer

Market Segmentation

Question 11

What is the Marketing Mix also known as?

Accepted Answer

4 p's of marketing

Question 12

people with similar attitudes, interests, and opinions, as well as lifestyles and shared values

Accepted Answer

Psychographics

Question 13

Gathering, storing, and analyzing information, customers, trends, and competing products is

Accepted Answer

Marketing Information Mgmt.

Question 14

Product, Price, Place, Promotion are components of the Marketing Mix.

Accepted Answer

True

Question 15

How many types of utility are there?

Accepted Answer

5

Question 16

Segmenting the market based on where people live is known as what

Accepted Answer

Geographics

Question 17

How to determine what to charge for goods and services in order to make a profit?

Accepted Answer

Pricing

Question 18

A very specific group of people that a business wants to reach is target market

Accepted Answer

True

Question 19

Concepts & strategies used to develop&target specific marketing strategies to a select audience

Accepted Answer

Market Planning

Questions 19