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Chapter 01 Marketing Essentials + Chapter 02 Marketing Essentials + Chapter 08 Marketing Essent Flashcards | StudBud
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Chapter 01 Marketing Essentials + Chapter 02 Marketing Essentials + Chapter 08 Marketing Essent
Chapter 01 Marketing Essentials + Chapter 02 Marketing Essentials + Chapter 08 Marketing Essent
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Answers
1
Technical or specialized vocabulary used by members of a particular group.
barriers
jargon
emotional barriers
distractions
2
Opening a store in Tumon instead of Mt. Lamlam.
information utility
form utility
possession utility
place utility
3
Changing a piece of wood into a pencil.
possession utility
place utility
form utility
time utility
4
A way of dividing the market into smaller groups with similar characteristics.
psychographics
market segmentation
mass marketing
demographics
5
The group of people most likely to buy a product, identified for a specific marketing program.
marketing concept
marketing
market
target market
6
Money used to pay for luxury items, such as vacation, movies, diamonds, etc.
disposable income
discretionary income
7
The process of exchanging messages between a sender and a receiver.
feedback
communication
barriers
channels/media
8
Dividing a market based on where people live.
geographics
behavioral
demographics
psychographics
9
A list of information about the target market, such as age, gender, income, etc.
customer profile
market planning
market
marketing information management
10
Identifies target markets and sets marketing mix choices that focus on those markets.
SWOT analysis
mass marketing
marketing strategy
situation analysis
11
Deciding how much to charge for goods & services in order to make a profit.
selling
price utility
channel management
pricing
12
Business to business market, businesses that buy products for use in their operations.
organizational market
market planning
market
consumer market
13
Money used to pay for necessities such as bills, food and shelter.
discretionary income
disposable income
14
Accepting cash, checks and credit cards.
pricing
information utility
place utility
possession utility
15
A statement that is accepted as true by most people.
quorum
distraction
generalization
feedback
16
What are the four components (4 Ps) of the marketing mix?
product, person, price, promotion
product, place, price, promotion
product, place, personnel, promotion
product, place, price, personnel
17
A brief overview of the entire marketing plan.
executive summary
environmental scan
SWOT analysis
situation analysis
18
The receiver's response to the message
setting
communication
barriers
feedback
19
The study of the internal and external factors that affect marketing strategies.
marketing strategy
situation analysis
performance standard
sales forecast
20
Process of developing, pricing, promoting & distributing products to satisfy customer needs/wants.
customer profile
market planning
market
marketing
21
Things you can’t physically touch. Ex. movies, haircut.
market
time utility
services
goods
22
To convince a person to change a perception in order to get him or her to do what you want.
barrier
persuade
feedback
setting
23
An expectation for performance that reflects the plan's objectives.
performance standard
market segmentation
environmental scan
sales forecast
24
Listing items in order.
quorum
generalization
enumeration
jargon
25
Biases against the sender's opinions that prevent a listener from understanding.
emotional barriers
communication
distractions
quorum
26
List the three key areas involved in an internal company analysis.
Company, Customers, Categories
Customers, Competition, Cellphones
Company, Customers, Competition
Customers, Company, Cooperation
27
Group of people with similar wants and needs who are willing and able to buy product.
customer profile
marketing information management
market planning
market
28
The circumstance under which communication takes place.
setting
emotional barriers
channels/media
barriers
29
Involves using a single marketing strategy to reach all customers
market segmentation
demographics
marketing strategy
mass marketing
30
The projection of probable, future sales in units or dollars.
sales forecast
situation analysis
disposable income
market segmentation
31
In a business meeting, a member makes a_____, or proposal, usually seconded by another member.
motion
memo
action
letter
32
Providing customers with products they need and want.
selling
channel management
place utility
pricing
33
Identify the factors in an external environment scan (PEST).
Performance, Economic, Socio-cultural, Technology
Political, Ethical, Socio-cultural, Technology
Political, Economic, Strategy, Technology
Political, Economic, Socio-cultural, Technology
34
Added value to a product that makes it more satisfying to consumers.
channel management
customer profile
selling
utility
35
Percentage of sales of a company compared to other companies selling similar products.
market share
market
market planning
target market
36
Having products available 24 hours a day to make it convenient for customers.
form utility
place utility
possession utility
time utility
37
Obstacles that interfere with the understanding of a message.
jargon
distractions
barriers
feedback
38
Things you can physically touch. Ex. soda, car
goods
pricing
services
form utility
39
The idea that a business should strive to satisfy customers’ needs & wants while generating profit.
market
marketing concept
marketing
market share
40
Consists of those who purchase products for personal use.
Consumer market
Organizational market
41
Getting the information to make sound business decisions. Ex. surveys
marketing information system
product/service management
market planning
channel management
42
Obtaining, developing, maintaining and improving products.
market planning
selling
marketing information management
product/service management
43
What does SWOT stand for in the SWOT analysis?
Strengths, Weaknesses, Opportunities, Threats
Strategies, Weaknesses, Organization, Threats
Strengths, Weaknesses, Organization, Threats
Strategies, Weaknesses, Opportunities, Threats
44
Putting labels on the product, sales clerks should have knowledge of the products.
time utility
form utility
place utility
information utility
45
Dividing a market based on age, gender, income, marital status, etc.
behavioral
psychographics
geographics
demographics
46
A ___ is a written message to someone in the company.
memo
text message
email
letter
47
Involves the studies of consumers based on people's attitudes, interests, and lifestyles.
psychographics
behavioral
geographics
demographics
48
The avenues by which the message is delivered.
channels/media
setting
jargon
communication
49
Understanding concepts used to develop & target specific marketing strategies to a select audience.
market planning
channel management
market
product/service management
50
To inform, persuade, and remind potential customers about a company or a product.
product/service management
customer profile
promotion
market
51
A proportion of membership needed to conduct official business.
generalization
quorum
enumeration
setting
52
Things that compete with the message for the listener's attention.
barriers
emotional barriers
jargon
distractions
53
Communication with people outside the company is usually done with
online chat
text message
memo
letter or email
54
A structure of holding group meetings and making decisions.
quorum
jargon
parliamentary procedure
generalization
