Functions of Marketing/5 Utilities
Deciding how much to charge for goods and services to make a profit
Pricing
This element of the promotional mix uses paid, nonpersonal communication through mass media like TV, radio, and social media.
Advertising
Age, gender, income, and education are examples of this type of segmentation.
Demographic Segment
The marketing mix, often referred to as the 4 P’s, includes Product, Price, Place, and this fourth element.
Promotion
What was the score of the Lewis-Palmer boys JV soccer game against Liberty High School
1-0
Blank.... is the process of developing, promoting & distributing ideas, goods, or services to create exchanges that satisfy customers
Marketing
This promotional tool involves direct interaction between a company’s sales staff and potential customers to build relationships and close sales.
Personal Selling
What is the name of Mr. Shroyer's dog
Took
Choosing between intensive, selective, or exclusive distribution strategies falls under which “P” of the marketing mix?
Place
I’m always in front of you but can’t be seen. What am I?
The future
What kind of utility is created when a customer purchases a new TV
Possession
Offering discounts, coupons, contests, or free samples are all examples of this promotional strategy designed to encourage short-term buying.
What is sales promotion?
Segmenting customers based on lifestyle, interests, values, and opinions refers to this type of segmentation.
Psychographics
A company lowering the cost of a product to penetrate a market or raising it to signal premium quality is making a decision related to this.
Pricing
In what year did the first iPhone get released
2007
Gathering, storing and analyzing information about customers, trends, and competitors
Marketing Information Management
Name one year in which the Nebraska Huskers football team won a national championship
1970, 1971, 1994, 1995, 1997
A company targets customers who share similar purchasing habits, brand loyalty, or product usage. This is known as what type of segmentation?
Behavioral
A company is launching a new energy drink. Describe one strategy for each of the 4 P’s (Product, Price, Place, Promotion) that would help the company successfully reach its target market.
Product: Offer unique flavors and highlight functional benefits like increased energy.
Price: Set a competitive price slightly below leading brands to attract new customers.
Place: Distribute in gyms, convenience stores, and online platforms for easy access.
Promotion: Use social media campaigns, influencer endorsements, and free samples to generate buzz.
The chemical element with the symbol ‘W’ is commonly known by what name?
Tungsten
Developing, maintaining, and improving a product or product mix in response to market opportunities
Product/Service Management
Public relations and publicity focus on creating a positive image of a company through unpaid media coverage or community involvement. Why is PR sometimes considered more credible than advertising?
Because it comes from an independent source rather than directly from the company.
A detailed description of a business’s target market that includes demographics, geographics, psychographics, and buying behavior is known as this.
A customer profile
A company wants to introduce a tech gadget in multiple countries. They must adjust features, pricing, distribution, and advertising for each market while maintaining the brand’s core identity. This strategy of adapting the 4 P’s for different markets is called what?
Global Marketing Strategy
Name 2 of the three mountains Mr. Shroyer climbed the last 3 weeks
oxford, belford, missouri