SEM - 1st Semester Exam

What is the philosophy that businesses should analyze the NEEDS of their CUSTOMERS and then make DECISIONS to SATISFY those needs, better than the COMPETITION.

• The Marketing Concept

• Marketing Mix

• The Marketing Functions

• Marketing Information Management

What’s the most important part of Marketing?

• The Customer

• The Product

• Profit

• Sales

What is one or more specific groups of potential customers called?

• Target Market

• Market Group

• Industry

• Producers

What is the Marketing Mix?

• A mixed group of different markets

• One or more specific groups of potential customers

• Interrelated activities that must work together to get goods and services from producers to consumers

• Price, Product, Promotion and Place

Whats another name for the Marketing Mix?

A physical thing (a good), or a service

• Price

• Product

• Promotion

• Place (Distribution)

It is the amount a customer must pay to acquire a product

• Price

• Product

• Promotion

• Place (Distribution)

Stimulating demand for a product by brining awareness or by persuasion

• Price

• Product

• Promotion

• Place (Distribution)

The process of getting a product in the hands of the customer when and where they are needed

• Price

• Product

• Promotion

• Place (Distribution)

Interrelated activities that must work together to get goods and services from producers to consumers

• Marketing Functions

• Marketing Mix

• Target Market

• Distribution