The process of planning, pricing, promoting, selling, and distributing products to satisfy customers' needs and wants.
100
What is form utility?
Change in basic material through production.
100
What is a sole proprietorship?
A business owned by one person; most common type of business.
100
Which kind of research includes satisfaction surveys and focus groups?
Attitude or opinion research.
200
What is enumeration?
Listing items in order.
200
What is a customer profile?
A list of information about a target market: age, location, occupation, and lifestyle.
200
What is time utility?
Making a product available to customers at the right time of year/day.
200
What are the four main functions of business?
Production and procurement, accounts and finance, management and administration, and marketing.
200
Which kind of research includes existing sales data and divides the size/location of a market, the competition, and the segmentation within the market for a particular product or service?
Marketing intelligence research.
300
What is a barrier to communication?
An obstacle that interferes with understanding.
300
What is CRM?
Customer Relationship Management; identifying and understanding customers to form a strong, long-lasting relationship.
300
What is place utility?
Increased usefulness because of location.
300
What are the three marketing management functions?
Planning, organizing, and controlling.
300
Which type of research is used to gather information about a product's design, packaging, and usage?
Product research.
400
What are the three main reasons for communicating?
Inform, persuade, entertain.
400
What is mass marketing?
Using a single marketing strategy to reach customers.
400
What is information utility?
Increased usefulness because of information that usually helps learn how to use the product.
400
What are examples of public corporations?
Incorporated cities, school, transit, and sanitation districts.
400
Which type of research can be done before/after an ad campaign?
Media research.
500
What are soft skills?
Skills that help with communication.
500
What is net profit?
Money left over to reinvest into a business.
500
What is possession utility?
The ability of marketers to aid customers in owning goods.
500
What are the two types of private corporations?
Closely and publicly held.
500
What is marketing research?
The process and methods used to gather information, analyze it, and report the findings.