Intro to Marketing (2)

Front

What are the 4 P's of Marketing?

Back

Product, Price, Place, Promotion

Answer explanation

The 4 P's of Marketing are Product, Price, Place, and Promotion. These elements are essential for a successful marketing strategy.

Front

What is utility?

Back

Adding value to a product

Answer explanation

Utility refers to the act of adding value to a product, which is the correct choice in this question.

Front

Which statement below best describes a target market? A group of people likely to become customers.

Back

A group of people likely to become customers.

Answer explanation

A target market refers to a group of people likely to become customers. It is important to identify and understand this group in order to effectively market products or services to them.

Front

In order for a market to exist, it must have:

Back

People who share similar needs/wants and have the ability to purchase.

Answer explanation

A market exists when people with similar needs/wants and the ability to purchase are present.

Front

Coffee Express is opening in Athens, GA and a local artist wants to sell her coffee cups in the store. The store has two locations: Downtown and Eastside. The locations describe which of the 4 P's of marketing?

Back

Place

Answer explanation

The locations of the store, Downtown and Eastside, describe the 'Place' element of the 4 P's of marketing.

Front

Which of the following is NOT an example of a want? Designer Clothes, Water, iPad, Vacation

Back

Water

Answer explanation

Water is a basic necessity and not a want. It is essential for survival and not a luxury like designer clothes, iPad, or vacation.

Front

Another name for the 4 P's of Marketing is:

Back

Marketing Mix

Answer explanation

The 4 P's of Marketing are also known as the Marketing Mix, which includes product, price, place, and promotion.

Front

A company that uses ONE marketing strategy to appeal to an entire market is called:

Back

Mass Marketing

Answer explanation

Mass Marketing is a marketing strategy that targets the entire market, appealing to a wide range of customers.

Front

Fair Market Foods decided to sell a package of cookies 2/$3.00. Which of the 4 P's does this describe?

Back

Price

Answer explanation

The pricing strategy of selling a package of cookies 2/$3.00 highlights the 'Price' element of the 4 P's of marketing.

Front

A Super Bowl TV commercial is an example of: Product, Price, Place, Promotion

Back

Promotion

Answer explanation

A Super Bowl TV commercial is an example of promotion because it is a form of advertising that promotes a product or service during a high-profile event.