Business Activities & The Marketing Concept
In this marketing function, these are the messages marketers send to customers to influence purchases. Messages are encoded in many ways, from the design of a store to a sales advertisement. Marketers rely on this to recognize and influence customers’ reasons for purchasing.
What is The role of promotion as a marketing function
The percentage of the market for a product or service that a company supplies
What is market share
What are the four elements of the marketing mix
What is product, promotion, price, and place
What category would taking a train to New York go into
Idea
What is the formula for networth
What is Total Assets-Total Liabilities
In what 3 ways do businesses contribute to society?
What is Businesses contribute to society by providing products, creating markets, and increasing economic benefits.
How does each component of the 4 p's contribute to successful marketing?
What is The marketing mix is important to any marketer because each factor is involved in customer satisfaction.
A visit to the doctor would go in which category
Describe the types of activities that businesses take part in
What is - Operational, investing, and financial activities.
Method of selling that involves analyzing customer wants and needs and aiming to fulfill them better than competitors.
What is the marketing concept
What is factor is in the middle of the 4 p's and contributes to the main focus of selling a product
What is target market
Concept that can be bought or sold after
Production, Marketing, Management, and Finance are the four factors of which business activity
What is Operational - They make up the majority of daily activities conducted by a business & contribute to the net worth of a company
This factor of the marketing mix determines specifications and features of products that are desirable to consumers. It also incorporates development of new products by examining problems consumers have and designing solutions to solve them. Analyzing customer problems and preferences is an important marketing function fulfilled by this factor.
What is Product and Service Management.
What are economic needs and wants
What is Economic needs are items essential to survival, whereas an economic want is something we desire but could ultimately live without. Economic needs include food, shelter, and clothing. A smartphone and the internet are economic wants
Many____are difficult for customers to evaluate based on differing elements of personal taste, experience, ability, and mood
What is services
What are the three elements of the marketing concept and how do they help a business fulfill needs better than its competitors
What is meeting customer needs, company goals, and profits
What is leaving a positive impact on the people and entities they influence
Name the seven marketing functions in order
What is channel management, market research/mim, market planning, pricing, product/service management, promotion, selling
What impact do marketing activities have on the individual, business, and society.
What is marketing activities impact and influence individuals, other businesses, and society at large