Marketing Mix
Part of the marketing mix that was affected when a TV commercial did not air due to a thunderstorm.
What is Promotion?
What type of question asks respondents to rate an item on a scale of 1 to 10?
Closed-ended question
Economy where manufacturing is the primary business activity.
What is Industrial economy?
Type of utility that results from changing the tangible parts of a product.
What is Form utility?
Type of risk that comes from actions of people or organizations.
What is Human risk?
Marketing mix element considered when choosing a delivery service.
What is Distribution?
With the marketing concept, what is the first step in planning?
Identifying customer needs
What term describes accepted or habitual practices in a country?
Customs
**Reason service businesses easily change pricing strategies.
They can change prices fairly easily
Marketing function that provides security for products and customers.
What is Risk management?
What is another term for channel management?
Distribution
Segmenting a market based on interests and values is called what?
Psychographic segmentation
What is the relationship between price and quantity consumers will buy called?
Demand
Usually the most difficult marketing decision to understand and plan.
What is Price?
Malpractice insurance for physicians.
What is Professional liability insurance?
Which element of the product marketing mix is most important?
The basic product
Which element of an MkIS organizes and studies information for decisions?
Analysis
Which type of economy finds the marketing concept most valuable?
Monopolistic competition
How long can a company legally call a product 'new'?
Six months
Final business organization that sells products to consumers in an indirect channel.
What is Retailer?
What describes the way marketing activities are planned and coordinated to achieve goals?
Marketing strategy
What is the final step in identifying potential market segments?
Use market information to choose the best markets
Which organization is a business-sponsored consumer protection group?
Better Business Bureau
What is usually the first and most difficult step in product development?
Idea development
Type of risk that is usually not insurable?
What is Speculative?