1-5
The struggle of businesses for customers is called
Competition
Barry likes to fish, hunt, and ski. For marketers this information would fall under the __________category.
Psychographic
Having the product available at the right time, such as Christmas is what utility?
Time Utility
The purpose of questioning a customer about his/her intended use of a product is to determine
What product features would meet their wants and needs
Joy had a billboard designed with a picture and description of her new product line. This represents what part of the marketing mix?
Promotion
The utility where the physical product provided is changed to satisfy the consumer.
Form Utility
Focusing all of the marketing decisions on a specific group of people that you wish to reach is called
Target Marketing
Allowing different types of payment for a product such as cash, checks, credit cards, financing, etc. is what type of utility?
Possession Utility
Suggestion selling is important to the merchant primarily because it
Can increase profit
Businesses that use their resources to develop products and services are called
Producers/Manufacturers
The marketing mix is composed of the following elements
Price
Product
Place
Promotion
Brandon’s job is to assist the customer in finding the right car to satisfy their wants and needs. Which of the functions of marketing does this demonstrate?
Selling
The basic economic problem that all businesses have to face is called
Scarcity
As the price of a product goes down, this happens to the demand for the product:
Increases
Which marketing function involves designing and developing products and services?
Product/Service Management
A belief that to be profitable, a business must work to meet the needs and wants of the customer is the
Marketing Concept
Obtaining the money needed to start and operate a business is a marketing function known as
Financing
Don’t just show a feature during a sell, tell them the _______________________.
Benefits
Jim raised the prices of the CD’s in his store, according to the law of supply and demand, as the price of a product goes up, the demand
Decreases
Nike’s phrase “Just do it” would be an example of a
Slogan
Dividing the total market into smaller groups of people who share specific needs and characteristics:
Marget Segmentation
Freida gets her car serviced at John’s Automotive Repair. This is an example of a(n)
Service
Customer service is important because it
Creates goodwill and customer satisfaction
No other company can use the New Balance symbol for their products or advertising except the New Balance Company. This is an example of a
Trademark
Buying the following item would best describe an emotional motive:
Flowers for a friend