Markets and Marketing

Market is only used to refer to a place buyers and sellers meet to buy and sell goods

• True

• False

What does target market mean?

• the market that your product is in
• the consumers you want to buy your product
• those consumers who haven't bought your product
• the markets overseas

What is the objective of a firm? (1 answer)

• Satisfying customer needs

• Profitability

• Both

What is not part of the marketing mix (the 4Ps)?

• Product
• Person
• Price
• Promotion

Developing, promoting, and distributing products to satisfy the wants and needs of a customer

• Goods
• Services
• Marketing
• Tangible

A group of people or companies who want a product or service and are willing and able to buy it.

• price
• product
• advertising
• market

What do 4 P’s of the marketing mix stand for?

• Product

• Price

• Promotion

• Place

• Planning

Tangible products that we use to satisfy our wants and needs

• Goods
• Services
• Marketing
• Tangible

Intangible items that have monetary value and satisfy needs and wants

• Goods
• Services
• Marketing
• Tangible

Out of the following which are NOT goods?

• Hammers

• Autos

• Dry cleaning

• Financial services

• Clothing