Marketing Basics
Marketing is the process of creating, communicating, and ________ value.
Delivering
Product/service management involves developing, improving, and ________ products.
Managing
Marketing research collects data to make better ________ decisions.
Marketing
A channel of distribution is the path a product takes to reach the ________.
Consumer
The group of people most likely to buy a product.
Target Market
A market includes people with needs, money, and the ________ to buy.
Willingness
A product line is a group of related products sold by the same ________.
Brand / Company
Primary data is collected ________ by the business.
Directly
A wholesaler buys in bulk and sells to ________.
Retailers
A unique symbol, design, or name that identifies a product.
Brand
The four elements of the marketing mix are Product, Price, Place, and ________.
Promotion
The product life cycle includes introduction, growth, maturity, and ________.
Decline
Secondary data is information that already ________.
Exists
A retailer sells products directly to ________.
Consumers
Any paid, non-personal communication to customers.
Advertising
A target market is a specific group of ________ a business wants to reach.
Customers
Product positioning compares a product to its ________.
Competitors
A focus group is guided by a trained ________.
Moderator
Direct distribution means the product goes straight to the ________.
Customer
The value of a brand in the marketplace.
Brand Equity
A marketing strategy outlines how to reach marketing ________.
Objectives
Branding helps differentiate one company's products from ________.
Others / Competitors
A sample is a portion of the population used to ________ the whole.
Represent
Logistics involves transportation, warehousing, and materials ________.
Handling
The process of dividing a market into smaller groups.
Market Segmentation