Marketing I Sem 1 Final Review

Front

What is the main goal of marketing?

Back

Fulfilling customer needs and wants

Front

What are the 4 Ps of Marketing?

Back

Product, Price, Promotion, Place

Front

What is the difference between goods and services?

Back

Goods are tangible, while services are intangible

Front

What is an example of labor as an economic resource?

Back

A factory worker

Front

What are the three types of economic resources?

Back

Land, labor, and capital

Front

What does supply in economics mean?

Back

How much of a product businesses are willing to sell

Front

What does demand in economics mean?

Back

How much people want to buy a product

Front

What is a target market?

Back

A specific group of people your business wants to sell to

Front

What does market segmentation involve?

Back

Splitting a market into groups based on characteristics

Front

What is an example of a social influence on consumer behavior?

Back

Peer groups and cultural trends