Marketing Concepts

Why are the "Seven Pillars of Marketing" important to marketing strategies?

• First step to effective market segmentation

• Help overcome separations and discrepancies between producers and consumers

• Helps companies focus on specific consumers

• Are need-satisfying offerings from companies

Which of the following is NOT an example of demographic segmentation?

• Segmentation by income

• Segmentation by ethnicity

• Segmentation by location

• Segmentation by occupation

The marketing mix includes place, price, positioning and promotion

• True

• False

Market segmentation involves which of the following?

• Identifying generic markets

• Collecting information to carry out marketing activities

• Segmenting the generic markets into target markets

• A and C

Marketers look at disposable income and discretionary income when marketing to consumers

• True

• False

Which of the following is NOT one of the seven pillars of marketing

• Distribution

• Financing

• Selling

• Economics

Which of the following combines finding a target market and using a marketing mix?

• Marketing concept

• Marketing strategy

• Marketing foundation

• Effective marketing

Mark goes to a department store in search of the perfect gift for his son's birthday. Mark is considered to be which of the following?

• Consumer

• Customer

• Marketer

• Distributor

There are how many foundations to marketing?

• 2

• 5

• 4

• 7

Effective marketing is difficult because of which of the following?

• Producers and consumers are usually separated in several ways

• Customers want to buy more than producers make

• The assortment of goods is usually too large for customers

• Manufacturers and retailers disagree on who is the customer