Marketing Essentials - Ch 1, and 2 review

Question 1

All people who share similar needs and wants and who have the ability to purchase a product

Accepted Answer

Market

Question 2

If you were creating a PEST analysis you would be referring to external impacts of a company.

Accepted Answer

True

Question 3

A set of procedures and methods that regularly generates stores, analyzes, and distributes info

Accepted Answer

Marketing Information System

Question 4

Process of planning, pricing, promoting, selling, and distribution ideas, goods and services

Accepted Answer

marketing

Question 5

A part of the target population that is assumed to represent the entire population

Accepted Answer

Sample

Question 6

Information that describes a groups attitudes or interests

Accepted Answer

Psychographics

Question 7

Selling product to a business that aide in the continued operations of the business

Accepted Answer

Organizational Market

Question 8

Statistics that describe a population in terms of personal characteristics

Accepted Answer

Demographics

Question 9

Niche Marketing is when companies do not define a target market and focus on marketing to all customers.

Accepted Answer

False

Question 10

Information that describes a groups shopping patterns

Accepted Answer

Customer Behaviors

Question 11

Price, Product, Place, Promotion

Accepted Answer

Marketing mix

Question 12

Process of classifying people who form a given market into even smaller groups

Accepted Answer

Market Segmentation

Question 13

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

Accepted Answer

goods

Question 14

The idea that business should strive to satisfy customers' needs and wants with profit

Accepted Answer

Marketing Concept

Question 15

Strengths and weaknesses are external to a company

Accepted Answer

False

Question 16

It is the money left after paying for basic necessities

Accepted Answer

Discretionary Income

Question 17

Money left over after taking out taxes

Accepted Answer

disposable Income

Question 18

Information that describes where a group of people live

Accepted Answer

Geographics

Questions 18