has something other than providing products and services for a profit as its primary focus
100
channel members
the businesses used to provide many of the marketing functions during the distribution process
100
What are the four ways that today’s marketing differs from marketing practices in the past?
From few to many, from independence to integration, from problems to opportunities, from expense to investment.
100
The earliest use of marketing was to….
A.Conduct marketing research
B. Move products from producer to consumer
C. Use advertising and selling to convince customers to buy
D. Identify new market opportunities
100
T or F: In order to develop an effective marketing mix, the products needs to be well developed before planning other mix elements.
A. True
B. False
200
strategy
a plan that identifies how a company expects to achieve its goals
200
channel of distribution
all of the businesses involved in completing marketing activities as products move from the producer to the consumer
200
What different approach to marketing planning is required of businesses that use the marketing concept?
It requires a new approach to thinking and planning. The market concept keeps the main focus on customers needs during planning.
200
New markets and ways to improve a company’s offerings in current markets are known as….
A. Innovations
B. The marketing concept
C. Market opportunities
D. None of the above
200
The marketing mix element that does not create economic utility by itself is….
A. Product
B. Distribution
C. Price
D. Promotion
300
target market
a clearly defined segment of the market to which a business wants to appeal
300
decision
a choice among alternatives
300
What is the initial focus of planning when the marketing concept is followed?
Conducting research to identify potential customers and their needs and developing a marketing mix that meets specific customer needs.
300
Which of the following is evidence that a business is using the marketing concept?
A. Being concerned only about the product and service.
B. Believing they know what the customer wants.
C. Using only a few marketing tools.
D. Studying the market.
300
In order for the decision-making process to begin, a consumer must….
A. Recognize a need
B. Have prior experience with products
C. Identify possible products that will satisfy the need
D. All of the above
400
Market opportunities
Include new markets and ways to improve a company offerings in current markets.
400
integrated
occurs when marketing is considered an essential part of the business and is involved in all important business decisions
400
What is a market segment?
Market segment are groups of similar consumers within a larger market.
400
When using the marketing concept, planning begins with….
A. Determining customer needs
B. Identifying a product
C. Assessing Competitors
D. Building a budget
400
In the final stage of the decision-making process, the consumer…
A. Makes a choice of the best alternative
B. May decide not to make a purchase
C. Gathers information about the price
D. Assesses whether or not the choice made was correct.
500
market segments
groups of similar consumers within a larger market
500
market opportunity analysis
studying and prioritizing market segments to locate the best potential based on demand and competition
500
Why should marketing mix elements be planned together rather than separately?
Because the customers will be satisfied with all four mixes together.
500
Studying and prioritizing market segments to locate the best potential based on demand and competition is known as…..
A. Market research
B. The marketing concept
C. Market opportunity analysis
D. Target marketing
500
A strategy for a company in intense competition that uses the marketing concept is to….
A. Reduce prices below their competitors’ prices.
B. Create a unique brand name for its products.
C. Change the marketing mix to make it different and more satisfying to customers.
D. Increase the amount of promotion.