Vocabulary
These are intangible items that have monetary value and satisfy your needs and wants.
What are "services"?
Three benefits of marketing are: new and improved product, added value, and...
What is "lower prices"?
What is the definition of a market? (Hint: 2 parts)
Similar needs/wants & the ability to pay
The idea that a business should strive to satisfy customers' needs and wants while generating a profit for a firm.
What is the "marketing concept"?
BONUS ROUND: (PLACE A WAGER)
Tell which one does not fit and why!
(Gift with purchase, advertising, owner's manual, nutritional labeling)
Gift with purchase; all are info utility
The functions of marketing add value to a product. This added value in economic terms is known as...
What is "utility"?
The four P's of the marketing mix are:
Product,
Price,
Promotion,
And...
What is "place"?
The process of classifying customers by needs and wants.
What is "market segmentation"?
List the marketing utilities.
Form, place, time, info, possession
This is also known as the (B-2-B) business-to-business market which includes all businesses that buy product for use in their operations.
What is "industrial"?
A group of people who is identified for a specific marketing program is known as a...
What is a "target market"?
Because of the importance of customers, some would add a 5th "P" to the marketing mix. The 5th "P" would be...
What are "people"?
Marketers who engage in CRM try to create more meaningful one-on-one communications with customers by applying data to communication. What is CRM?
What is "Customer Relationship Management"?
To develop a clear picture of their target market, businesses create a listing of information such as age, income level, attitudes, lifestyles, known as...
What is a "customer profile"?
DOUBLE JEOPARDY!!! (800 pts)
Determine the total sale, including sales tax, for a customer who purchases the following items: 6 dress shirts @ $35 each, 8 pairs of socks @ $5 each, 6 ties @ $15 each, and 1 scarf @ $55. The sales tax rate is 6%. Total sale is __
What is "$418.70"?
A company's percentage of the total sales volume generated by all companies that compete in a given market.
What is a "market share"?
What are: "lower prices", "new & improved products", "added utility".
In order for a product to succeed, the 4 P's must be directed to the...
What is "target market"?
The market is mostly concerned with improving profits, productivity, and sales while decreasing expenses and making their work more efficient.
What is "industrial"?
CATALOGS--STORES--WEBSITES--BLIMPS
Which word does NOT fit... and why?
Blimps-- all are place utility
"PUT ON YOUR THINKING CAP" 'CAUSE IT'S A DOUBLE JEOPARDY-- 1,000 POINTS!!!
Name all 7 functions of marketing!
Financing
Marketing Info Management
Pricing
Product/Service Management
Promotion
Selling