BP Ch. 10.1 Marketing Basics

A target market is a group of consumers that have similar wants and needs.

• True

• False

This marketing function involves setting and communicating the value of products and services.

• financial analysis

• distribution

• pricing

• selling

What is the first step in the consumer decision-making process?

• gather information

• select alternatives

• evaluate alternatives

• recognize a need

Marketing function responsible for determining the best ways for customers to locate, obtain, and use a company’s products and services.

• distribution

• selling

Consumers who buy products and services for their own use.

• final consumers

• business consumers

Marketing function that deals with designing and improving products and services.

• product and service management

• financial analysis

• promotion

Marketing function that involves communicating information about products and services to potential customers.

• promotion

• distribution

• financial analysis

An example would be buying a birthday card for your sister because you love and care about her.

• emotional buying motive

• rational buying motive

Marketing function that involves communicating directly with potential customers to determine and satisfy their needs.

• distribution

• selling

Marketing function that involves budgeting for marketing activities and providing financial assistance to customers so they can purchase goods and services.

• financial analysis

• promotion

• distribution