Radom Question
Name of this class?
The Process of developing, promoting, pricing in order to satisfy the customer needs and wants.
What is Marketing
The group of potential consumers who share common needs and wants.
the target market has the ability and willingness to buy a product.
What is market
All things used in producing goods and services.
What is RESOURCES
an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state
What is Capitalism
College that Mr. Chester Graduated from
What is Temple University ?
Obtaining money needed to finance the operations of a business. This includes bank loans and offering credit to customers.
What is Financing
The group of consumers that a company desires to have as customers.
What is Target marketing.
The study of how to meet the unlimited wants of a society with its limited resources.
What is ECONOMICS
No government involvement in answering the three basic economic questions. (What? How? For whom?)
Market (or the people) answers the three basic economic questions.
What is Market Economy
What is Distribution.
Dividing the entire market into smaller groups (of people) who share similar characteristics.
What is Market Segmentation
A condition in which more goods and services are desired than are available.
Scarcity forces people, businesses and nations to make choices.
Unlimited wants-Limited resources = SCARCITY
What is SCARCITY
Increased government involvement
Government tries to reduce the differences between the rich and poor.
Based on the welfare of people
What is Socialism
Hank Gathers graduated from which high school?
What is Dobbin High School.
Name the Four P's of Marketing.
What is Product, Price, Place, Promotion
Segmenting the market based on personal characteristics such as age, gender, income, ethnic background, education and occupation.
What is Demographics
The money needed to start and operate a business.
Includes goods used in the production of other goods.
What is CAPITAL
Government answers the three basic economic questions
Officials or leaders decide what should be produced.
Government runs the businesses and employs the workers. (How)
Government decides who will receive the produces. (For whom)
What is Command Economy
Name the 44th President of United States.
Who is President Barack Obama
Name the 7 functions of marketing.
What is Marketing Information Management, product/service managing, financing, pricing, promoting, selling, distribution.
the market based on values, attitudes and lifestyles.
-Example: People interested in professional football, Segmenting.
What is Psychographics
All the people who work in the economy, including full and part-time workers, managers, public employees, and professional people
What is LABOR
Government is run by one political party and that party controls everything.
People are assigned jobs.
Students are told what type of schooling they will receive.
Examples: Cuba and North Kore
What is Communism