What is the difference between goods and services.
What is the differGoods - tangible items that have monetary value
Services - Intangible items that have monetary valueence between goods and services.
100
What is the process of gathering information, storing it and analyzing it?
Marketing Information Management
100
Which marketing benefit is being used when Apple creates and releases the new i-Phone 6?
New & Improved Products
100
What is a market?
All people who share a similar need or want and who have the ability to purchase the given product.
100
Who is the DECA advisor at Bayless High School?
Mr. Kirk
200
What is the marketing concept?
The idea that a business should strive to satisfy customers' needs and wants while generating a profit.he marketing concept?
200
What is it called when a company determines how much to charge for their goods or services in order to make a profit?
Pricing
200
What are the three economic benefits of marketing?
New & Improved Products
Added Value
Lower Prices
200
What is another name for consumer market?
Retail Market
200
Which utility is being used when a business offers a 24 hour call center help line?
Time & Information
300
Who is currently in first place in the National League Central Division?
The St. Louis Cardinals
300
Domino's Pizza conducted marketing research to determine why their sales had dropped. Due to this research they changed their pizza crust, menu items, and image. What is this function called?
Product/Service Management
300
What is it called when competition forces companies to be efficient and responsive to consumers.
Added value & utility
300
Industrial or Business to Business Market
What marketing would I be talking about if I am talking about Pepsi selling their products to Chucky Cheese?
Industrial or Business to Business Market
300
What is Mr. Kirk's son's name?
Alex Kirk
400
What is DECA?
An association of high school marketing students that are academically prepared, community oriented, professionally responsible, and experienced leaders.
400
Explain business to business selling.
This is when business sell their products or services to other businesses in order to improve their operations.
400
What are the 5 economic benefits of marketing?
Form
Place
Time
Possession
Information
400
Why is a target market important?
Helps direct marketing strategies.
400
Which utility is being used when McDonald's is offering their Shamerock Shake in March?
Time Utility
500
In your own words explain marketing.
Process of planning, pricing, promotion, selling, and distributing ideas, goods or services to create exchanges that satisfy customers.
500
Name the 7 functions for marketing.
Distribution
Financing
Marketing Information Management
Pricing
Product/Service Management
Promotion
Selling
500
Why do prices drop when products become popular?
Increase in demand. When demand is high, manufacturers can produce products in larger quantities.
500
Explain Market Share.
A company's percentage of total sales volume generated by all companies that compete in a given category.
500
Why does a company want to understand their market share?
Helps marketers analyze their competition and their status in their given market.