Marketing Functions

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This marketing function is all about data, research and analysis

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Marketing Information Management (MIM)

Front

The purpose of this marketing function is to set a financial charge for a product that will maximize profit.

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Pricing

Front

This function is essentially creating a good, a service or an idea that satisfy a customers need or want

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Product Service Management

Front

This function is about one word... COMMUNICATION. This function is how a customer discovers a product.

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Promotion

Front

This function is 1 to 1, customized communication with a consumer.

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Selling

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A farmer is trying to decide if he should sell his corn himself at a local farmers market OR to sell all his corn to a wholesaler who will then sell it again to grocery stores like Kroger. What function is the farmer contemplating?

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Channel Management

Front

Which function is this? You walk into a jewelry store. An employee greets you and asks you questions regarding what you are looking for. Next the jeweler shows you some jewelry that has features and benefits that match your needs and wants.

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Selling

Front

This purpose of this marketing function is to communicate to you in order to inform you, persuade you and/or remind you

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Promotion

Front

Which one of these are in the proper order? 1. Objective 2.Strategy 3 Tactics

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Objective, Strategy, Tactics

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How would you evaluate the success of the following goal? I will acquire $1,000 in sales by between December 1 and December 31, 2020. Options: Meet with the sales staff and ask them if they made more sales in December than usual, Total the number of sales in December and see if you met or exceeded $1,000, Measure the total profit of December and see if you made $1,000 more in profit, Keep track of number of patrons coming to your store during December. If you have a lot more customers coming to your store than usual, then it was a success.

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Total the number of sales in December and see if you met or exceeded $1,000.