Marketing Essentials Section 1.1

Question 1

These decisions dictate how much to charge for goods and services in order to make a profit.

Accepted Answer

pricing

Question 2

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

Accepted Answer

market planning

Question 3

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

Accepted Answer

promotion

Question 4

The activity, set of institutions, and processes for creating, and exchanging offerings that have value for customers.

Accepted Answer

marketing

Question 5

The process of deciding how to get goods into customer's hands.

Accepted Answer

Channel Management

Question 6

Tangible items that have monetary value and satisfy your needs and wants.

Accepted Answer

goods

Question 7

Intangible items that have monetary value and satisfy your needs and wants

Accepted Answer

services

Question 8

Gathering information about customers, trends, and competing products, then storing and analyzing it.

Accepted Answer

marketing information management

Question 9

Provides customers with the goods and services they want.

Accepted Answer

selling

Question 10

Idea that a business should strive to satisfy customers' needs and wants while generating profit for the business.

Accepted Answer

marketing concept

Questions 10