1.01
Marketing links producers to:
A. Distributors
B. Retailers
C. Marketers
D. Customers
D. Customers
There are many activities in marketing that are interrelated and similar in purpose. These activities are referred to as marketing
A. Functions
B. Tactics
C. Responsibilities
D. Strategies
A. Functions
Which of the following traits are necessary in all marketing careers:
A. Teamwork and communication
B. Persistence and math skills
C. Creativity and independence
D. Math skills and graphic design
A. Teamwork and communication
A goal can be evaluated to determine its
A. Advantage
B. Benefit
C. Progress
D. Success
D. Success
Liza has always wanted a horse, and she has finally saved enough money to buy one very soon. In marketing terms, Liza is a
A. Market
B. Target group
C. Resource
D. Market segment
A. Market
Which of the following is a marketing activity:
A. Lowering operational expenses
B. Communicating with customers
C. Balancing customer needs with wants
D. Leading a project team
B. Communicating with customers
Ryan is working with his marketing team to set goals and create a budget for the upcoming year. Which marketing function is Ryan performing?
Market Planning
What type of duties do customer service professionals often perform?
A. Paying invoices
B. Preparing Ads
C. Handling complaints
D. Receiving shipments
C. Handling complaints
Which of the following is an important characteristic of marketing tactics:
A. The tactics should support the marketing mix.
B. The tactics should line up with marketing strategies.
C. The tactics should bring in enough money.
D. The tactics should focus on customers.
B. The tactics should line up with marketing strategies.
What is a target market
A group of customers a business seeks to attract
Where does marketing occur?
Wherever customers are
Explain Product/Service management
Product/Service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities.
What marketing career focuses on keeping customers coming back?
Customer service
A firm’s strategy is important because it shows
how its goal will be reached.
What are the 4 market segments?
Demographic
Geographic
Psychographic
Behavioral
What is a durable good? Give an example
An item that is long lasting
Coffee mug
Making both buyers and sellers feel they are getting good value is part of the __________ function of marketing.
Price
Hospitals, spas, and churches are examples of ________ marketing.
Service marketing
What are the 4 elements of the marketing mix?
Product
Place
Price
Promotion
What are the 3 types of data used by marketers?
Facts, estimates, predictions
Determining how much to charge for a haircut
What are the 7 Functions of marketing?
Market planning, Product/Service Management, Pricing, Channel Management, Promotion, Selling, Market information management
What marketing career involves catching customers' attention, informing them of products, and persuading them to buy?
Advertising
Give an example of a goal
Give an example of a strategy to meet that goal
Goal an example of a tactic
Goal-Losing 10 lbs
Strategy- Go to the gym 3x a week
Tac tic- Sign up for a gym membership, wake up early to go to the gym, buy gym shoes
Give an example of a fact
Give an example of a estimate
Give an example of a prediction
Fact- Valentines day is feb. 14
Estimate- It cost about $65,000 to attend a 4 year college
Prediction- Sales will be up 4% next quarter