Marketing is Dynamic
Why is marketing dynamic?
Marketing is dynamic because that focuses on the customer to generate a profitable exchange.
List the three elements of the marketing concept.
The three elements of of the marketing concept are identify what are the needs of the customers, develop new products to fit those needs and to operate your profitable business.
List three geographic variables.
The three geographic variables are location, climate and community size.
Give an example of each of the three categories of influences on consumers.
The three influences on consumers are culture,family and friends and co-workers. An example of each is would be how culture influences, family influences, and friends influences.
Explain the differences between a sole proprietorship, a partnership, and a corporation.
The difference between a sole proprietorship, partnership and corporation is sole proprietorship is owned by one person, partnership is owned by a group of small people, and a corporation is a legal entity for the people who own it.
Describe each of the Four Ps. Give an example of each.
The four P’s in Marketing is Product, Place, Price, and Promotion. An example is a good, service of idea for prosduct, a area where the product will be sold, the amount or cost of the product, and hwo the product can be seen or founded.
What are the Four Ps of marketing?
The four P’s of marketing are product, place, price and promotion
List five demographic variables.
The five demographic variables are age, gender, income, enthicy and family make up.
List Maslow’s human hierarchy of needs. (5)
Maslow’s hierarchy of needs are:
safety
self actualization
etsemm
acceptance
physical needs
Describe each of the four functions of business.
The four functions of business are production, finance, marketing and management. The production is where the product is made, finance is where the money is distributed for the product, marketing is how the product is marketed and management is how the business manages the product.
Describe the difference between goods, services, and ideas.
The difference between the goods, services and ideas are goods are tangible and intangible items such as a watch. A service is a place that offers a product to you such as getting a massage at a salon, a idea is a opportunity that is given to understand a product such going to get ice cream can be a idea in marketing.
Give a brief description of the seven functions of marketing.
The seven functions of marketing are channel management, MIM (marketing-information-management), marketing planning, pricing, product/service management, promotion and selling.
List five psychographic variables.
The five phsyhographic variables are lifestyle, values, hobbies, interests and attitudes.
Give an example of each of the five buying motives. (5)
Self actualization: self serves to elderly people
Esteem: a new watch
Acceptance: applications of online
Safety: car seats to protect your child.
Physiological: yougurt that has natural products in in.
In what ways is marketing international?
The ways that marketing is international because of increasing they linked improved technology and you can purchase any needs that from anywhere in the world.
What are the three kinds of products?
Goods, Services, Ideas
What is the difference between price competition and non-price competition?
Price competition and non-price competition is that price competition, products are complete substitutes, so companies stay competitive only if the price is lower, while in non-price competition, brands stand out because of quality, unique selling proposition, competitive advantage, great customer service, etc.
List three behavioural variables.
The three behavioural variables features, usage rate and brand loyalty.
List the six steps in the consumer decision process.
observation
interview
survey
diaries
experiment
questions
What is the difference between a fad and a trend?
The difference between a fad and a trend is that a fad lasts more than the a trend.
How do marketers make marketing mix decisions?
Marketers make marketing mix decisions based on questions that are the marketing mix such as asking where would teh product be sold?, where can they be sold and where would the ads be seen.
What is the difference between primary and secondary data?
Primary and secondary data is that collected data for a specific business and collected data from collecting from non-marketing reasons.
List the four qualities that a target market should have.
The four qualities that a target market should have are clearly defined needs, money to buy the product, willingness and authority to buy the product, enough customers in the market to be profitable.
List the four levels of purchase decisions.
Extended Decision-Making.
Limited Decision-Making.
Habitual Buying Behavior.
Variety-Seeking Buying Behavior.