Marketing -- Introduction to Marketing

A group of customers who share common wants and needs

• Market

• Market Mix

• Market Economy

• Target Market

The process of creating, promoting, and presenting a product or service to meet the wants and needs of consumers

• Marketing

• Marketing and Mixing

• The Four P's of Management

• Product, Price, Placement and Production

Getting good and service to customers is known as:

• Distribution
• Financing
• Marketing information management
• Promotion

Getting the money that is necessary for setting up and running a business is known as:

• Financing
• Borrowing
• Procurring
• Promoting yourself

Which of the following are examples of promotion as one of the functions of marketing

• Informing the customer about your product
• Persuading the customer to try your product
• Reminding the customer about your product
• All of the answers are correct

Deciding how much to charge for a product or service is not a function of marketing, it is a function of management

• True
• False

Relationship Marketing is defined as:

• Building and maintaining a relationship with your customers
• Only maintaining relationships with customers that have been established
• Only building relationships with new customers, they are most important
• Marketing a product to someone you are related to so they can promote it as well

Market Research helps businesses discover consumer:

• Wants and Needs
• Prices and Promotions
• Trade-offs and Opportunities
• None of the answers are correct

When it comes to product development, generating ideas through brainstorming should come at the end of the process

• True
• False

Screening ideas means that you listen to any and all ideas without determining if they are good or bad.

• True
• False