Marketing Concepts Flashcard Year 1 DECA

Front

Determine whether the following statement is true or false: Company commitment is unnecessary for the success of the marketing concept.

Back

False, company commitment is essential to the success of the marketing concept.

Front

Which function of marketing determines how much gross profit a business will make on a good or service?

Back

Pricing

Front

The element of marketing that is concerned with having the selected product in the right location at the right time is

Back

Place.

Front

Markets are composed of people with unfulfilled desires who are willing and able to

Back

Spend money.

Front

What does applying the customer-orientation element of the marketing concept enable the business to do?

Back

Offer products that consumers want to buy

Front

By increasing awareness of the need for environmental controls, what has marketing done?

Back

Improved the quality of life

Front

According to the marketing concept, which of the following options shows company commitment: Leaving marketing to the marketing department, Teaching marketing to college marketing students, Pricing a product to maximize profitability per item, Setting aside funds to research what customers want?

Back

Setting aside funds to research what customers want

Front

Which marketing function helps businesspeople forecast how much will be sold in a given period?

Back

Market planning

Front

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?

Back

Product/Service management

Front

What does the selling function involve that makes it so important?

Back

Contacting customers