What is a “Marketing Mix?”

Factors a company controls to influence consumers

Process of getting products to customers

What is Buyer Behaviour?

The actions people take with regard to products they buy

Which of these are different types of products?

Unsought Products, Shopping Products, Capital Products, Convenience Products

How do new products get developed?

A process of testing, creating, and manufacturing ideas and concepts

One to one marketing is…

Creating a unique marketing mix for every customer

Introducing a new product and lowering its price over time

How are Business markets different than consumer markets?

The purchase volume, number of customers, location, and distribution

What is Market Segmentation?

The cutting up of products into “Segments” of the market

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Bus Chapter 11

20 termsStudBud Administration

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Questions 20

Answers

1
“Marketing Concept” is analysing customers wants and needs for marketing
False
True
2
What is a “Marketing Mix?”
Using different products to market to many people
A collection of competitive advantages
The components that make up a business
Factors a company controls to influence consumers
3
Analysing the current market environment is called
Buyer Analysis
Target Market
Environmental Scanning
Marketing
4
What is Marketing?
Analysing consumers wants and needs
Process of getting products to customers
Spreading knowledge of a product
Building relationships with customers
5
What is Buyer Behaviour?
How people use a product post-purchase
The amount people purchase
The actions people take with regard to products they buy
The stores people buy from
6
Which of these are different types of products?
Unsought Products
Shopping Products
Capital Products
Convenience Products
7
What might count as a individual factor affecting a buyer’s behaviour?
Political affiliation
Public opinion
Location
Gender
8
What factor does NOT influence buyer behaviour?
Cultural factors
Psychological factors
Individual factors
Currency factors
9
Which one is part of the product life cycle?
Conceptualisation
Obsolescence
Sales Peak
Decline
10
Bundling is…
Grouping products together
Changing the price over time
Changing prices to affect demand
Offering products at low price immediate
11
How do new products get developed?
Someone invests and asks for a specific good/service
Employees suggest ideas to implement
A process of testing, creating, and manufacturing ideas and concepts
A concept is developed and made
12
One to one marketing is…
Creating a unique marketing mix for every customer
A computerised file of customer purchase patterns
A physical copy of someone’s purchases
Marketing from one business to another
13
What is a product?
A service
A good
Something tangible a consumer wants to purchase
A good or service
14
When a product reaches maturity, it…
Grows at a normal rate
Starts to decline
Grows at the fastest rate
Sees profits slow and plateau
15
It is important to understand trends for marketing
True
False
16
Innovation is necessary in marketing
True
False
17
Price skimming is…
Pricing products at a normal markup
Introducing a new product and lowering its price over time
Grouping related products together
Pricing products lower than normal markup
18
How are Business markets different than consumer markets?
The type of product sold, and transportation costs
The type of currency that is given for the good/service
The way products are made and packaged
The purchase volume, number of customers, location, and distribution
19
Which of these is NOT a competitive advantage?
Cost Advantage
Niche Advantage
Service Advantage
Capital Advantage
20
What is Market Segmentation?
The process of manufacturing parts in segments
The cutting up of products into “Segments” of the market
Buying and selling products through many stores
Spreading a companies product through many countries

Bus Chapter 11 Flashcards | StudBud