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Marketing Test Review Flashcards | StudBud
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Marketing Test Review
Marketing Test Review
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1
What is Target Market?
Organization that buys goods.
Person who uses goods.
Video games
The group that is identified for a specific marketing program.
2
What is product service management?
Developing and improving products in response to market opportunities.
Used to determine customer demographics, buying habits, and attitudes
Based on competition and how much customers are willing to pay.
Information on customers obtained through market research.
3
Promotion is:
Selling directly to the customer in retail market.
Deciding how much to charge for goods and services to maximize profits
Based on competition and how much customers are willing to pay.
Communicating with potential customers to inform them about products.
4
What is form utility?
Changing raw materials or putting parts together to make them more useful.
The exchange of a product for some monetary value.
Having a product available at a certain time of year
Having a product where customers can buy it.
5
What are psychographics?
Studies of consumers based on social and psychological characteristics.
Money left over after paying for basic living necessities. Luxury products.
Age, Gender, income, and ethnicity background.
Based on where people live.
6
Person who uses goods or services for personal use:
Customers
Price
Teachers
Consumers
7
Involves understanding the concepts and strategies used to develop and target specific marketing audiences.
Selling
Market Planning
Market Information Management
Promotion
8
What is Customer Profile?
Businesses who buy products.
Products for any person
A company's total sale percentage.
Created to develop a clear picture of the target market.
9
What is disposable income?
Studying peoples needs and wants
money left over after paying for basic living necessities. Luxury products.
Market Segmentation
Money left after taking out taxes.
10
What is information utility?
Attributes of a product or service that satisfies a consumer.
Involves communication with the consumer.
people who purchase goods and services for personal use.
New and improved products
