Marketing functions
what is The enterprise and pursuit of ideation, creation, communication, and delivery of profitable products and services to targeted customers for their benefit and society’s benefit.
marketing
A specific group of customers that is most likely to buy a certain product or service, and where marketing efforts are aimed in order to reach and connect with this group, is called a/an:
target mkt
Groups of people who share one or more common characteristics are:
market segments
These are very specific actions used to support strategy, in order to achieve your goals and objectives:
tactics
What type of promotion is done through phone calls?
What is an example of a nondurable good?
car, granola bar, smartphone, LED lightbulb
Granola bar
The marketing function that works with customers to ensure satisfaction, and encourage repeat business, is:
customer service
Mass marketing involves a ______________ product and message.
one size fits all
Marketing strategies are the ________________ for how goals and objectives will be met.
blueprints
A low-cost marketing strategy that uses the element of surprise is:
Guerilla marketing
__________ means To analyze and identify the needs and wants of customers, and build strategies to satisfy those needs and wants, better and more effectively than its competitors
marketing concept
Which marketing function would most likely lead to the elimination of a product or service?
product/service mgt
If a company’s marketing team sorted customers based on lifestyles, interests, and values, they would be using:
psychographic
Increasing advertising expenditures is a part of which component of marketing mix?
promotion
What type of traditional promotion has grown and evolved into influencer marketing, guerilla marketing, and viral marketing?
Grassroot marketing
Marketing is a _________________ discipline of _________________ functions.
multifaceted, interrelated
Which marketing function involves persuasion based on the merits a product or service can provide?
selling
What is a disadvantage of market segmentation?
it is more costly to do research
Marketing mix includes the 4Ps, which are:
Product, Price, Place, Promotion
the use of key words and terms in order to increase desired website traffic through organic search results.
SEO
How does marketing benefit society?
job creation, increased tax revenue, and more choices for buyers.
What is a “bottleneck”?
a point of congestion
Sheila’s Shovel Shop wants to target customers who live in areas where it snows a lot. Segmenting groups based on where someone lives is called:
geographic segmentation
what is the 2 parts of the profit margin equation
cost and price
WWhat does PESO stand for?
Paid, Earned, Shared, Owned