Foundations of Business -Chapter 11: marketing

Question 1

Essay: Explain the concepts of direct marketing and digital marketing

Accepted Answer

that takes place in an electronic format. social media, etc., Digital Marketing: any type of promotion for a product, - postcards, coupons, and sales letters., Direct Marketing: Business communicates directly to customer

Question 2

Explain the importance of the financing function of marketing.

Accepted Answer

Capital must be secured before production & marketing occurs, to produce, market, and sell goods or services., Function of financing sourcing the necessary capital, equity financing, debt financing, and crowdfunding

Question 3

Define: Target Market

Accepted Answer

group of people a business focuses on selling their product

Question 4

Which of the following is NOT a marketing concept?

Accepted Answer

globalization

Question 5

Define: Public relations strategy

Accepted Answer

A marketing strategy that maintains a company’s public image

Question 6

Name three common marketing strategies businesses use and give an example of each.

Accepted Answer

logos, personal selling, digital marketing, sales promotions, advertising,, direct marketing, public relations

Question 7

Explain promotions as part of the marketing mix.

Accepted Answer

Promotions rely on the communication process to send, "LAST CHANCE" "WONT LAST FOREVER", messages to consumers to pique their interest, advertising, sales, markdowns, and personal selling.

Question 8

Define: Marketing Strategy

Accepted Answer

A plan for promoting products and meeting marketing goals

Question 9

The amount of money expected in payment for a good or service is called the:

Accepted Answer

price

Question 10

The promotion of products through nonpersonal communication is:

Accepted Answer

advertising

Question 11

A specific group of people a business focuses on selling their product to is called

Accepted Answer

target market

Question 12

Essay: Which four factors do businesses consider when calculating their competitive position?

Accepted Answer

all of the above

Question 13

‘P’ that involves the path products take to get to the user including distribution channels

Accepted Answer

place

Question 14

Visual merchandising

Accepted Answer

attempt to show product features and benefits with displays

Question 15

Define: Personal Selling

Accepted Answer

Refers to a salesperson selling a product to a customer

Foundations of Business -Chapter 11: marketing

Questions 15

Foundations of Business -Chapter 11: marketing

Questions 15