an identified market with excellent potential based on careful research... is
What is Channel members
100
What are the four ways today’s marketing differs from marketing practices in the past?
Answer: From Few to many , from Independence to integration , From problems to Opportunities , From Expense to investment.
100
1. The earliest use of marketing was to?
What is a. C. use advertising and selling to convince customers to buy.
100
2. Studying and prioritizing market segments to locate the best potential based on demand and competition is known as
What is a. C. market opportunity analysis
100
In the final stage of the decision-making process, the customer
What is a. D. assess whether or not the choice made was correct
200
a plan that identifies how a company expects to achieve its goals... is
What is Channel of distribution
200
What different approach to marketing planning is required of business that use the marketing concept?
Answer: A business that is unwilling to study the needs of its customers when planning and marketing products and services is taking a big risk. Competitions who understand and use the marketing concept will turn that understanding into an advantage.
200
2. New markets and ways to improve a company’s offering in current markets are known as
What is a. C. Market opportunities
200
3. True or False: In order to develop an effective marketing mix, the product needs to be well developed before planning other mix elements.
What is a. True
200
4. A strategy for a company in intense competition that uses the marketing concept is to
What is a. B. Create a unique brand name for its products
300
a clearly defined segment of the market to which a business wants to appeal... is
What is Decision
300
What is the initial focus of planning when the marketing concept is followed?
Answer:A Strategy.
300
3. When marketing is integrated, it is considered a(n) part of the business, and it is in all important business decisions
What is a. Essential, involved
300
The marketing mix element that does not create economic utility by itself is?
What is a. D. promotion
300
1. The marketing mix element that usually receives the most attention from producers and manufactures is
What is a. A.Product
400
has something other than providing products and services for a profit as its primary focus... is
What is Integrated
400
What is a market segment?
Answer: Groups of similar customers within a larger market are known as market segment.
400
4. Which of the following is evidence that a business is using the marketing concept?
What is a. D. Studying the market
400
1. A choice among alternatives is a(n)
What is a. Decision
400
2. Wholesalers emphasize while retailers are responsible for most final decisions
What is a. B. distribution
500
studying and prioritizing market segments to locate the best potential based on demand and competition... is
What is Market opportunity analysis
500
Why should marketing mix elements be planned together rather than separately?
Answer: Because many decisions are needed to insure that a satisfying product is made available to the selected markets , at the price , and with the information that best meets customer’s needs.
500
When using the marketing concept, planning begins with
What is a. Determining customer needs
500
In order for the decision-making process to begin, a customer must
What is a. Recognize a need
500
3. Which marketing mix element do service business usually have greater control over than do business that sell products?