Marketing Basics
What is a distinctive quality of a good or service?
Feature
What represents a product's performance on the market from when it is first introduced to when it is discontinued?
Product Life Cycle
What are the words at the forefront of an advertisement designed to draw readers in?
headline
What is a tangible item that is produced and sold to consumers?
goods
What are the goods and services a business produces to satisfy customers' wants or needs?
Products
What represents the goods and services sold by a business?
Product Mix
What occurs when the total costs and revenues are equal?
Breakeven Point
What is the text within an advertisement?
copy
What is an intangible, non-physical offering provided by individuals, businesses, or organizations to fulfill specific needs or tasks for others?
service
What includes the messages marketers send to customers to influence purchases?
Promotion
What is a group of goods and services with similar characteristics in the product mix?
Product Line
What is an amount added to the break-even point to determine the selling price?
Markup
What includes Bait+Switch, price fixing, deceptive pricing, and predatory pricing?
discriminatory pricing
What is a form of digital communication through which users create online communities to share content and information?
social media
What is the amount of money expected in payment for a good or service?
Price
What is a symbol or design that a company uses to identify its business and products?
Logo
What includes the entities and processes involved in transforming raw materials into products purchased by consumers?
The supply chain
What includes strategies such as advertising, sales, markdowns, and personal selling?
Promotions
What harnesses digital communication to execute the foundation of marketing, which is the process or technique of promoting, selling, and distributing a product?
social media marketing (SMM)
What is the path products take to reach end-users?
place
What is a repeated phrase or selection of words associated with a specific individual, organization, or product?
Slogan
What is the path a product takes to reach end-users?
Distribution Channel
What involves aligning the other functions of marketing to sell a product to the target customer at the right place, price, and time?
Selling
What is a method of selling that involves analyzing customer wants and needs and aiming to fulfill them better than competitors?
Marketing Concept
What involves considering how marketing will be funded?
marketing planning