Updated Marketing Strands 1, 2, 3

Which of the following defines Marketing?

• finding financial resources to start a new business or refinance an existing business

• all activities that link producers to consumers in order that exchanges can be made

• getting products to where they are needed to satisfy customers

• creating products in order that they may be consumed or utilized

What is the marketing terms for determining where and how to get products to the places where they can be purchased

• channel management
• pricing
• selling
• promotion

What is the most correct definition of marketing information management?

• informing, reminding, and/or influencing customers about a business and/or its products
• determining where and how to get products to the places where they can be purchased
• determining prices to maximize return on investment and meet customers' perceptions of value
• gathering, accessing, evaluating, and disseminating information

What is the most correct definition of pricing?

• gathering, accessing, evaluating, and disseminating information
• determining prices to maximize return on investment and meet customers' perceptions of value
• developing a product or service mix in response to market opportunties
• determining and responding to customer needs through planned, personalized communication

What is the most correct definition of product/service management?

• gathering, accessing, evaluating, and disseminating information
• determining where and how to get products to the places where they can be purchased
• developing a product or service mix in response to market opportunties
• informing, reminding, and/or influencing customers about a business and/or its products

What is the marketing term for informing, reminding, and/or influencing customers about a business and/or its products?

• pricing
• promotion
• selling
• channel management

What is the marketing term for determining and responding to customer needs through planned, personalized communication

• pricing
• channel management
• promotion
• selling

The combination of four elements of marketing - product, place, promotion, and price is known as 

• marketing theory
• marketing mix
• marketing strategy
• marketing idea

 Individuals who are willing and able to buy a product are known as the 

• market
• company
• consumers

What are marketing strategies?

• a brief written summary of what business seeks to accomplish 
• the goals a business seeks to reach within its marketing plan 
• a plan of action for achieving marketing goals and objectives 
• the marketing objective that a business plans to undertake