Unit 3 - Marketing

Select the 4 P's of the marketing mix.

• product

• people

• price

• place

• promotion

The term ______________ is used to describe all potential customers who have the desire and ability to purchase a business’s products.

When you see an advertisement for a store and decide to shop there, which element of the marketing mix has succeeded?

• Presentation

• Product

• Place

• Promotion

The idea of prestige pricing suggests which of the following?

• A higher price suggests higher quality

• Only rich people will buy higher priced items

• People will always pay more to get a name brand product

• Prices are higher to disguise standard products as higher quality products

64% of consumers are females aged 18-24 is considered what?

• Qualitative data from market research

• Merger rate of a target market consumer buying index

• Quantitative data from market reserach

• All answers are correct

The division of a total market into smaller, more specific groups is known as....

• target market

• market groups

• focus groups

• market segmentation

When a company uses the mass marketing technique, they are doing which of the following?

• Producing and distributing large amounts of marketing over a short period of time

• Concentrating marketing on the most massive group of customers

• Aiming marketing at everyone without consideration of differences among people

• Producing large amounts of marketing in one year to be distributed the next year

A ___________ is anything offered to satisfy customer needs and wants; it could be a physical product or an intangible service.

• gift

• promotion

• pitch

• product

The marketing mix can best be described as which of the following?

• The elements a marketer is attempting to sell

• The variables marketers control to influence a business’ success

• The pieces necessary to create an advertisement

• The ways a business can benefit from marketing

The __________ element (or distribution) includes the locations where the product is sold and how the product gets there.

• product

• price

• place

• promotion