The sum total of all the buyers and sellers in the area under consideration

What does operational marketing take into account and what does it focus on?

Short-term ideas and implementation tactics

What does strategic marketing take into account and what does it focus on?

The values and objectives of the companies and the future of the company

Want for specific products coupled with the ability to purchase them

What does marketing refer to?

Activities a company undertakes to promote the buying of a product/service

What is self-actualization?

Desire to become the most that one can be

What are examples of physiological needs?

Air, water, food, shelter, sleep, clothing

A set of processes involved in creating & communicating value to customers

Which three Pʹs were later added, to make the seven Pʹs of marketing?

Process, people, and physical evidence

What does primary demand refer to?

A want backed by a buying ability

What are the four original Pʹs of the marketing mix concept?

Product, place, price, and promotion

studbud

1: Basic Marketing Concepts

27 termsStudBud Administration168 plays

Imported from external platform

Flashcards27 cardsFPractice quizPHost liveL

Questions 27

Answers

1
What is a market?
A store that customers go to where they can buy any product or service
A place where buyers and sellers meet and do exchanges
The company or organization offering products or services
The sum total of all the buyers and sellers in the area under consideration
2
Wants arenʹt essential for human survival.
False
True
3
Which needs are at the top of the pyramid?
Safety needs
Esteem
Love and belonging
Self-actualization
4
What does operational marketing take into account and what does it focus on?
Satisfying the self-actualization and esteem needs of customers
Reaching the companyʹs highest possible potential in the short-term
Short-term ideas and implementation tactics
The values and objectives of the companies and the future of the company
5
What is the basis of marketing?
The services
The customer and their needs
The products
The sellers and their needs
6
What does strategic marketing take into account and what does it focus on?
Satisfying the self-actualization and esteem needs of customers
The values and objectives of the companies and the future of the company
Short-term ideas and implementation tactics
Reaching the companyʹs highest possible potential in the short-term
7
Which needs are at the bottom of the pyramid?
Safety needs
Physiological needs
Esteem
Self-actualization
8
What is demand?
Want for specific products coupled with the ability to purchase them
The basic human requirements, like food, water, and shelter
Things that people dream of having and save money for
A desire for a product or service the people wish for, that isnʹt essential
9
What are three important terms in marketing?
Revenue, profit, and income
Knowledge, supply, and demand
GDP, advertising, and customer
Needs, wants, and demands
10
What is any activity or benefit that one party can offer to another, which is intangible & doesnʹt result in ownership?
A product
A demand
An activity
A service
11
What is a group of people that have been identified as the most likely buyers of a product or service?
Target market
Sellers
Buyers
Market
12
What does marketing refer to?
Circumstances which decrease the price of a certain product or service
Activities a company undertakes to promote the buying of a product/service
Posters or advertisements that the sellers like
Products or services that customers are usually drawn to
13
What is the term for aggragating prospective buyers into groups or segments with common needs?
Market division
Market categorization
Market organization
Market segmentation
14
What is self-actualization?
Air, water, food, shelter, sleep, clothing
Desire to become the most that one can be
Friendship, intimacy, family, sense of connection
Personal security, employment, resources, health, property
15
What does KPI stand for?
Key performance indicator
Key process industrialization
Key product information
Key price ignition
16
What are examples of physiological needs?
Desire to become the most that one can be
Friendship, intimacy, family, sense of connection
Air, water, food, shelter, sleep, clothing
Personal security, employment, resources, health, property
17
What is marketing?
A set of processes involved in creating & communicating value to customers
A group of steps in which employees apply and interview for jobs
A lengthy procedure involving writing copy directed at the interns
A series of steps involved in drafting emails to various CEOs
18
What is a document that lays out the marketing efforts of a company in an upcoming period, which is usually a year?
A customer scheme
A buyer diary
A seller agenda
A marketing plan
19
Which word describes a desire for a product or service the people wish for, that isn’t essential for a proper life?
Need
Want
Demand
Dream
20
What is a product?
An item being bought
An item that is desired
An item offered for sale
An item necessary for survival
21
Needs higher up in the hierarchy must be satisfied before individuals can attend to needs higher up.
False
True
22
Which three Pʹs were later added, to make the seven Pʹs of marketing?
Place, people, and price
Process, people, and physical evidence
Promotion, price, and product
Product, physical evidence, and process
23
What is a motivational theory in psychology comprising a five-tier model of human needs?
Sartreʹs hierarchy of needs
Maslowʹs hierarchy of needs
Jungʹs hierarchy of needs
Freudʹs hierarchy of needs
24
What does primary demand refer to?
A process of self-actualization
The third level of Maslowʹs pyramid
The products that satisfy basic human needs
A want backed by a buying ability
25
What are the basic human requirements, like shelter, food, water, etc., which are essential for human beings to survive?
Wants
Needs
Desires
Demands
26
What are the four original Pʹs of the marketing mix concept?
Price, promotion, people, and physical evidence
Product, place, price, and promotion
People, physical evidence, price, and product
People, price, place, and promotion
27
What is the difference between a client's evaluation of the benefits & cost of your products when compared to others?
Idea
Value
Opinion
Review

1: Basic Marketing Concepts Flashcards | StudBud