Marketing Mix
What element of the marketing mix deals with advertising, sales, and public relations?
Promotion
What function deals with enhancing a product line?
Product/Service Management
What marketing function includes budgeting for all marketing activities and assisting customers in paying for a company’s product?
Financing
What are three examples of marketing "people"?
Celebrities, Politicians, Athletes
Marketing is based on creating and maintaining _____________ between producers and consumers.
relationships
Many movie theatres charge a lower admission earlier in the day to encourage more people to come at that tome. What element of marketing is the focus of this strategy?
Price
What function tries to make the product available when and where customers want it?
Distribution
What function deals with the marketing budget?
Financing
The process of planning, pricing, promoting, selling, and distributing products to satisfy customer's wants and needs.
Marketing
The customers who are most likely to buy the business' products.
Target Market
What element of the marketing mix deals with packaging?
Product
What marketing function is responsible for a product’s life cycle?
Product/Service Management
What marketing function gathers and analyzes information that helps marketers predict and determine which products will be successful in the marketplace?
Marketing Information Management
What does AMA stand for?
American Marketing Association
Determining whether or not to sell your product through a wholesaler or a retailer relates to which component of the marketing mix?
Place
What element of the marketing mix deals with transportation?
Place
What marketing function deals with wholesalers and retailers?
What marketing function that involves gathering, accessing, synthesizing, evaluating, and disseminating information to aid in business decisions?
Marketing Information Management
A business should work to satisfy customers _____ and ______ while generating a ____ for the business.
needs, wants, profit
To market a product successfully, a business must
understand what consumers want
What is considered the "Fifth P" of the marketing mix?
People
Pricing is the process of establishing and communicating to customers the ____ and _____ of goods and services.
value, cost
List the Seven Marketing Functions
MIM, Product/Service Management, Pricing, Distribution, Financing, Selling, Promotion
What 6 things can be marketed?
Products (Goods and Services), Places, Events, Ideas, People, Non-profit organizations/businesses
Marketing Connects ________ to _________.
producers to consumers