Marketing

Marketing

Study Guide

Multiple Choice

How is marketing different than advertising?

• It is the same thing.

• Advertising is one component of marketing.

• Marketing is one component of advertising.

• Advertising is for products, marketing is for services.

Poll

How important do you think it is for businesses to conduct market research?

• Very Important

• Somewhat Important

• Not really important

• No reason to do it at all

Open Ended

How would you describe the target market for an expensive sports car?

Multiple Choice

True or False: The Marketing Mix is also called the Four P's.

• True

• False

Open Ended

If we decided to start a new business selling custom-made t-shirts, how could you describe the product component of our business? What exactly would we be selling? What does it look like, feel like, etc? What special features does it have? What is our product called? Use your imagination!

Open Ended

If we decided to start a new business selling custom-made t-shirts, how could you describe the price component of our business? How much does our product cost? Do we charge more, less, or the same amount as our competitors?

Open Ended

If we decided to start a new business selling custom-made t-shirts, how could you describe the place component of our business? Where do we sell our products? Do we have a physical store? A website? How do our customers find us? If we have a store, what does it look like inside?

Open Ended

If we decided to start a new business selling custom-made t-shirts, how could you describe the promotion component of our business? Do we offer sales or discounts? What kind of advertising do we do? What kind of message do we send to customers that makes them want to buy our products?