Standard 1 Marketing Review

The effort to inform, persuade, and remind current and potential customers about a business's products or services.

Strategies used to determine how and where a product will be distributed.

Management must select a combo of marketing mix decisions that will satisfy target markets and achieve organizational __

A process of deciding how to get goods into customers hands.

Understanding concepts and strategies used to develop and target specific marketing strategies to a select audience.

Market planning, information management, pricing, product/service management, promotion, channel management, selling.

Price Strategies reflect what customers are willing and able to pay.

Determine how much to charge for goods and services in order to make a profit.

The following are all included as part of Product Strategies except what?

Obtaining, developing, maintaining, and improve a product or a product mix in response to market opportunities.

Businesses must satisfy customers’ needs and _____ in order to make a profit.

Which of the following is not part of the Marketing Mix?

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

Developing, promoting, and distributing ideas, goods, or services that satisfy customer needs and wants.

Which of the following is not a function of marketing?

Strategies used to price products for sale.

Combination of pricing, promotion, product offerings, and place to reach a specific group of consumers

Strategies for communicating information about a product to customers.

Strategies for deciding what products to make and sell. Includes decisions about packaging, warranties, and branding.

Place strategies help businesses decide how and where a product will be distributed.

All of the following are part of Promotion Strategies except what?

Respond to consumer needs through planned communication in order to influence purchase decisions and ensure satisfaction