Intro to Marketing Retest

How many functions of Marketing did we discuss?

Understanding the market in order to improve business and marketing decision-making

• Marketing Information Management

• Promotion

• Selling

• Product/Service Management

Obtaining the funds needed to operate the business is _______

What is promotion?

• The process of setting a price by taking into account how much money needs to be made to finance the business as well as factors related to customer needs and expectations

• Communicating the value of the business’s products and services to customers to create and increase demand for and purchase of the products and services

• Directly communicating with customers to determine and satisfy their wants and needs

• Getting products and services to the best place for customers to locate, obtain and use them, as well as determining where products will be stored before purchase

In Marketing, what is Primary Research? (Type your answer)

Understanding what ______ a business's products and services will meet is ______to the success of the products and services?

• Customers, Needs

• Needs, Vital

• Patterns/Theories

• Strategy/Goal

What is the difference in PRODUCT and a SERVICE?

A product is something you can____

What are the 4 P's of Marketing?

• Payroll, Payback, Partnership, Promotion

• Price, Place, Product, Paid

• Product, Profit, Promotion, Place

• Price, Product, Promotion, Place,

Market _______ is the organized effort to gather and interpret information about a market?

• Mix

• Strategy

• Research

• Segmentation

How do you explain MASS MARKETING?