Who are targeted customers in marketing?

Customers who benefit from the products

Customers who are located in a specific place

Customers who are loyal to the brand

Customers who are interested in advertising

What is the role of marketing in connecting a business to its target market?

Marketing helps a business communicate with its target audience

Marketing helps a business set prices for its products

Marketing helps a business distribute its products

Marketing helps a business create products and services

What is the definition of marketing?

The enterprise and pursuit of ideation, creation, communication, and delivery of profitable products and services to targeted customers for their benefit and for the benefit of society as a whole

The pursuit of profitable products

The communication of products to customers

The creation of products for targeted customers

What is the benefit that customers and society should derive from marketing?

Improved quality of products and services

Increased profits for the business

What is the importance of the customers in marketing?

Customers provide feedback on products

Customers determine the profitability of a business

Customers are the target audience

What are the four components of marketing?

Attract, benefit, promote, connect

Profitability, targeted customers, benefit, society

What are the 4Ps of marketing?

Profit, people, process, physical evidence

Public relations, packaging, positioning, publicity

Planning, production, pricing, placement

The process of creating value for the business and society

The process of selling products and services

The process of creating ads and commercials

Which of the following is an example of influencer marketing?

Collaborating with popular social media personalities

How do promotional strategies differ between companies with mass appeal products and specialized products?

Companies with specialized products use mass marketing

Companies with specialized products focus on broad markets

Companies with mass appeal products focus on niche markets

Companies with mass appeal products use personalized marketing

What does the marketing concept suggest businesses should do?

Analyze and identify customer needs and wants

Find customers first, then build products

Build products first, then find customers

Achieve growth and profitability goals

Which of the following is an example of a promotional/advertising medium?

Analyzing customer needs and wants

Building products that customers want

Achieving growth and profitability goals

What is the marketing concept?

A company's strategy to analyze and identify customer needs and wants

A company's strategy to build products for customers

A company's strategy to find customers for its products

A company's strategy to achieve growth and profitability goals

How do companies with mass appeal products typically promote their products?

Through targeted social media ads

Why do companies invest millions of dollars in Super Bowl ads?

To reach a wide target audience

To promote specialized products

What is the purpose of engaging in multiple types of promotional activities and advertising mediums?

To ensure consumers are aware of and want to buy products and services

To analyze and identify customer needs and wants

To build products that customers want

To achieve growth and profitability goals

What is the role of promotion in marketing?

To inform potential customers about a product or service

To analyze and identify customer needs and wants

To achieve growth and profitability goals

To build products that customers want

According to the reading, why is it important to identify customer needs and wants in marketing?

To achieve the goals of the organization

To build products that customers want

To satisfy customer needs and wants better than competitors

What is one of the functions of promotion in marketing?

To inform potential customers about a product or service

To analyze and identify customer needs and wants

To achieve growth and profitability goals

To build products that customers want

Why is it important to identify customer needs and wants in marketing?

To decrease customer satisfaction

How do companies with specialized products typically promote their products?

Through targeted social media ads

What are some benefits of marketing for businesses?

Increased profits, job creation, and increased tax collections

Decreased profits, job creation, and reduced tax collections

Decreased profits, job loss, and reduced tax collections

Increased profits, job loss, and increased tax collections

What are some of the categories of goods, services, experiences, events, people, places, organizations, information, and ideas mentioned in the reading?

Cars, computers, and smartphones

What is the concept of a private enterprise system?

A system where businesses are owned and operated by individuals or groups

A system where businesses are owned and operated by non-profit organizations

A system where businesses are owned and operated by foreign investors

A system where businesses are owned and operated by the government

What is a private enterprise system?

A system where businesses are privately owned

A system with limited consumer choices

A system controlled by the government

How does marketing create competition among businesses?

By encouraging businesses to differentiate and improve their products

By discouraging businesses from improving their products

By providing businesses with exclusive rights to sell certain products

By encouraging businesses to collaborate and share resources