Chapter 1&2
True or False? Making a profit should be the most important focus for marketing.
False.
True or false, an insurable risk is one in which a loss can occur, but the dollar amount of the loss cannot be determined.
False
True or false? Marketing research is designed to create a solution to a certain marketing problem through the use of a problem-solving system.
True.
Equilibrium is
The point where the supply and demand curves intersect.
Promotion helps a business by
Making customers aware of a product, event, or service.
Entertainment marketing is the influence of
How people choose to spend their money and time.
______ is the study of how services and goods are produced, consumed, and distributed.
Economics
What is the first step in the marketing research process?
Discover and define the problem.
If entertainment is compelling, will customers find a way to buy it?
False.
What component of a effective ad pushes a consumer to buy the product?
Action.
Focusing on satisfying customer needs is a key part of
A business that follows the marketing concept
To make decisions on how to use resources to boost profit.
What is a cohort?
A group of people who share certain characteristics.
What is the requirement for Internet service providers to treat every internet traffic the same called?
Net neutrality.
What are members of the event triangle?
Sponsors, event, and fans.
What is the peak of Maslow's hierarchy of needs?
Self-actualization needs.
Editing or changing media is considered
Censorship
What stage in a product life cycle do product sales begin to level?
Maturity stage.
Distinct categories of merchandise which are based on price and features are called
Price lines
What is not a cost to event producers which a sponsorship can offset?
Earning the goodwill from the audience.
The customer service gap describes the difference between
Customer expectations and the service that is truly received.
What is multigenerationalism?
When a business or place wants to satisfy the needs of multiple generations.
The product mix contains a product's final _____ and assorted ____.
Form, features.
A business with seasonal cycles which are pronounced, what is the period of moderate demand called?
Shoulder period.
The estimated max potential audience of a promotion is
Gross rating points.