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Unit 1 Marketing Flashcards | StudBud
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Unit 1 Marketing
Unit 1 Marketing
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Flashcards
16 cards
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Questions
16
Answers
1
What is not an example of promotion?
How much a good or service costs.
Magazine Advertisments
Social Media
Billboards
2
Tangible items that have monetary value. Intangible items that satisfy your needs but you can’t.
Goods and Services
Channel Marketing
Promoting
Distribution
3
What are the Economic Utilities?
7 core functions
Marketing Mix
Price, Place, Promotion and Product
Form, Place, Time, Possession, & Information
4
Business to Business. includes businesses who buy products for use in their operations.
Time Utility
Industrial Market
Information Utility
Consumer Market
5
What is an example of customer profile?
Income
Age
Ethnicity
All of the above
6
When demand is high do you decrease or increase your prices?
Increase
Decrease
7
What is the difference between consumer and customer?
The consumer only purchases the good. The customer uses it.
The consumer uses the good. the customer purchases it.
8
A way of analyzing a market by specific characteristics in order to create a target market.
Market Management
Discretionary
Market Segmentation
Disposable
9
Why would a company improve their good or service?
Competition
Promotion
They just want to
Bored of products
10
Involves uderstanding the concepts and strategies used to develop and target specific marketing audiences.
Market Planning
Price
Marketing Information Management
Promotion
11
What is the group that is identified for a specific marketing program?
Market Share
Target Market
Market Segmentation
Psychographics
12
How many core functions are there in Marketing?
7
6
4
3
13
What does CRM stand for?
Customer Retailing Management
Customer Relationship Management
14
The amount the customer will pay for the product. The value of money or its equivalent placed on a good or service.
Price
Product
Promotion
Place
15
Discretionary Income is the money left after paying for basic living necessities.
True
False
16
The consumer is the person purchasing the good or service?
True
False
