1.01
After the popularity of a product dropped, the business needed a new product to promote that would help to improve its image. Which marketing function would come up with the new product?
Product or service management
Which marketing career field involves determining why customers do what they do?
Marketing research
A business determines that it can increase its market share 12 percent by promoting its goods and services to Hispanic females who are 18 to 34 years old. How is the business segmenting the market?
By demographics
To promote its summer menu, Danielle's cafe plans to e-mail a $5.00-off coupon to its regular customers next Tuesday. the coupon will be valid from June 1 through June 15. What does use of the coupon represent?
A Tactic
Involves determining activities, goals, objectives, and procedures necessary to carry out those strategies.
Market Planning
Paul’s plant food is losing its popularity among his customer base. Which marketing function would come up with the improved product?
Product or service management
Booking hotel rooms for vacationers is an example of which marketing?
Service
Which market segment represents customers who prefer a variety of reasonably priced recreational activities?
Psychographics
What does continuously monitoring internal marketing information enable businesses to do?
Identify problems
Involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities. This plans, directs, and controls all phases of a product’s life cycle from beginning to end.
Product / Service Management
According to the marketing concept, which option shows company commitment?
Setting aside funds to research what customers want.
Which marketing career field involves catching customer's attention, informing them of products, and persuading them to buy?
Advertising
What is the overall reason that marketing strategies are designed and implemented?
Achieve planned goals
Which type of internal report would indicate to a business that sales for a specific product have dramatically dropped over the past three months?
Quarterly inventory status
Involves gathering, accessing, synthesizing, evaluating, and disseminating information.
Marketing Information Management
By increasing awareness of the need for environmental controls, what has marketing done ?
Improved the quality of life.
Kwacky Kwackers needs a new package design for its crackers. what marketing professional would be responsible for creating the new package?
Product Management
Dennis has a great idea for a new type of tennis ball that, if produced, would be better than any ball currently on the market. He pitches his idea to a few investors. Which of the four p's should these investors consider first?
Product
What does a business need in order to understand why a product that has been a strong seller for a long time is now losing popularity?
Marketing information
Involves determining and adjusting prices to maximize return and meet customers’ perceptions of value. This often involves deciding how much to charge for products so customers will want to buy and businesses will make a profit.
Pricing
Which marketing function helps business people forecast how much will be sold in a given period?
Market Planning
What is at the center of all marketing activities?
Communication
Manny has a new idea for a new cleanser that would decrease the time in cleaning tiled floors. He thinks this product would be better than any cleanser currently on the market. Which of the four p's should these investors consider first?
Product
By monitoring its sales and its customers' buying habits , what is a business often able to identify ?
Product Popularity
Responsible for identifying, selecting, monitoring, and evaluating sales channels
Channel Management