Final Exam Review

Front

What is the primary focus of the marketing concept?

Back

Meeting customer needs and wants

Front

Which of the following is NOT a function of marketing? Product development, Promotion, Distribution

Back

Financial auditing

Front

Explain how market segmentation can benefit a business.

Back

It helps a business target specific groups more effectively.

Front

Identify the type of market segmentation that focuses on lifestyle and personality traits.

Back

Psychographics

Front

How does geographic segmentation differ from demographic segmentation?

Back

Geographic segmentation focuses on location, while demographic focuses on characteristics like age and gender.

Front

What is the primary goal of market positioning?

Back

To create a unique image in the consumer's mind

Front

Which element of the marketing mix involves decisions about advertising and sales promotions?

Back

Promotion

Front

Discuss the importance of channel management in distribution.

Back

It helps in selecting the most effective ways to deliver products to consumers.

Front

Back

33.33%

Front

What is the break-even point in business?

Back

The point where total revenue equals total expenses