MKT I Final Review

All the goods and services a company sells

If you don't recognize the brand then you haven't seen their....

Obtaining, developing, maintaining, and improve a product or a product mix in response to market opportunities.

Activity for creating, communicating, delivering, and exchanging goods and services.

What stage of the Product Life Cycle is letter C?

Narrows and defines a market with extreme precision, which increases the chances of a product's success.

What is NOT considered a primary source?

As price of corn increases, demand will increase. This is considered...

Middle Role of buying and selling

Gathers, Stores, and analyzes information...

10 punches on my Starbucks card gets me a free drink. This is an example of ____.

Do you want to help customers overcome doubts and concerns?

Match the following Market Segmentations: Age, Gender, Ethic Background

Responding to consumer needs and wants through personalized communication in order to influence purchase decisions

Match the following Market Segmentations: Where they live (city, region, landmarks)

The different flavors of Lay's Potatoe Chips.....

What stage of the Product Life Cycle os letter D?

The effort to inform, persuade, and remind current and potential customers about a business's products or services.

Most expensive and fastest form of transportation.

Sally bought new jeans becuase her old ones are worn out. What type of buying is this?

Understanding concepts and strategies used to develop and target specific marketing strategies to a select audience.

Personal form of promotion where you talk directly to the customer.

A group of people a company decides to aim their product at.

What are the four P's of Marketing?

Least expensive and slowest. Not all producers/consumers live close to a waterway.

A company's percentage of the total sales volume generated by all companies that compete in a given market.

Which one is NOT considered a secondary source?

What stage of the product life cycle is letter B?

Thinking of ideas in a group

Taking a word or phrase and branch several directions from the center piece.

Kellogs has a ton of different foods... cereral, protein bars, etc.

Benefit or Feature: Luxury look and feel

Positive agreement to buy a service

Most common, relatively inexpensive for short distances.

Dividing the broad market into small subsets

Gather information from the public to boost and inform marketing campaigns.

Which promotion does this match? Radio Ad

Verizon and Sprint are battling for customers. This is called:

Who purchases mint leaves from the farm and sells them to the restaurant?

Which promotion does this match? Instagram Advertisment

Match the following Market Segmentations: Attitude, Lifestyle, and Interest

Promotion where companies PAY to reach customers. Often seen in newspapers and commercials.

Gathering, storing, and analyzing information, customers, trends, and competing products.

Benefit or Feature: Side-Impact Airbags

How do you build long term relationships?

The point at which total cost and total revenue are equal.

The value of money placed on a service or item.

Determine how much to charge for goods and services in order to make a profit.

Match the following Market Segmentations: Shopping Patterns, Usage

Assessment that lists and analyzes the company's strengths, weaknesses, opportunities and threats. Internal and External

Which promotion does this match? A coupon book from Smith's received in your mailbox.

Benefit or Feature: Easy Gear Shifting

A press release is cosidered to be ______.

Which promotion does this match? Billboard

A formal, written document that identifies the target market and directs a company's activities.

Benefit or Feature: Leather Interior

Approach / Determine / Present / Overcome / close / Suggest / Follow-up

Evaluate your new ideas using the SWOT analysis.

What stage of the Product Life Cycle is letter A?

All marketing activities are directed at a business or retail customers to boost sales. Coupons or sweepstakes

Following up on a sale you should....

Less expensive than trucking. Best for long distances and heavy items.

Benefit or Feature: Safety

A process of deciding how to get goods into customers hands.

Benefit or Feature: Auto Transmission

Bob's girlfriend dumped him. He decided to hop on the next flight to Vegas. What was the motivation?

I buy Nike because I am loyal. What is this considered?