CHAPTER 8 - MARKETING

What is marketing?

• Engaging customers and managing profitable customer relationship

• Understanding the marketplace and customer needs

• Fulfilling needs, wants and demands of customers

• All of the above

Buyers and potential buyers of goods and services is refers to

• Market

• Needs

• Want

• Demands

Created when supported by buying power is refers to

• Needs

• Want

• Demands

Production orientation is focus on

• Selling product

• Customer needs

• Continuous product improvements

• Increased output and efficiency

Product, Sales and Customer orientation is the other market orientation.

• True

• False

Marketing mix consists of

• Product

• Price

• Place

• Promotion

If you buy beads to make jewelry to sell to your friends, that purchase is a part of which market?

• Consumer market

• Business Market

Daily household purchases would fall under the category of

• Business Market

• Global Market

• Consumer Market

• Monopolistic Market

The types of consumer products are

• Convenient

• Specialty

• Shopping

• Unsought

The types of business products are

• Materials & Parts

• Capital Goods

• Supplies & Services