Marketing Basics
The process of creating, communicating, delivering, and exchanging offerings that have value.
What is marketing?
A physical item that you can touch?
What is a good?
Function that sets prices to cover costs and make a profit?
What is pricing?
Another name for the 4 P's?
What is the marketing mix?
The idea that businesses should satisfy customer needs while making a profit.
What is the marketing concept?
The six things marketing can be used to promote: people, places, goods, services, events, and _____.
What are ideas?
A intangible activity performed for someone?
What is a service?
Function that get the products to customers, also called distribution?
What is place/placing?
This "P" of the marketing mix focuses on how much will pay?
What is price?
The marketing concept says businesses should satisfy customer needs and wants while generating what?
What is a profit?
The group of customers most likely to buy a product.
What is the target market?
Goods are tangible items that satisfy wants and needs. Give one example.
What is a car, cell phone, food, TV, Xbox game, or clothes?
Function that gathers and uses information about customers?
What is marketing research?
This "P" involves where and how the product is sold?
What is place?
In the marketing concept, the focus is always on the _____.
Who is the customer?
The 4 Ps of marketing.
What are product, price, place, and promotion?
Services are intangible. Give me an example
What is a haircut, cooking, serving tables etc.
Function that helps customers know about a product through advertising, sales, or PR?
What is promotion?
This "P" communicates the product value to customers.
What is Promotion?
It is more profitable for a company to hold on to existing customers than to do what?
What is search for brand new customers?
A company’s collection of different products.
What is a product mix?
During COVID-19, brands redesigned their logos to promote which idea?
What is social distancing?
Function that gets people to buy based on verbal communication?
What is word-of-mouth?
This "P" includes quality, features, and branding?
What is product?
Who is often recognized as the father of modern management theory?
Who is Peter Drucker