SBENT1L - Quiz #2

5M's of Marketing: refers to the people who make sure that the rest of the 5Ms are utilized in a productive manner to achieve organizational goals.

• Mind

• Minutes

• Machine

• Money

5M's of Marketing: refers to how long it takes the organization to introduce a new product to the market.

• Mind

• Minutes

• Machine

• Money

5M's of Marketing: refers to equipment or physical assets used to process materials into finished or semifinished products.

• Mind

• Minutes

• Machine

• Money

5M's of Marketing: refers to inputs needed to produce goods and services.

• Materials

• Minutes

• Machine

• Money

5M's of Marketing: refers to a crucial resources because it's used to acquire and/or hire other resources.

• Materials

• Minutes

• Machine

• Money

Refers to a person or organization that buys goods or services from a store or business.

• Customers

• Suppliers

• Distributors

• Competitors

Refers to people that buys goods from multiple manufacturers and sells them to its customers.

• Customers

• Suppliers

• Distributors

• Competitors

Refers to other businesses who can offer the same or similar goods and services to your customers.

• Customers

• Suppliers

• Distributors

• Competitors

Refers to an entity or organization that provides something needed for a product to be produced.

• Customers

• Suppliers

• Distributors

• Competitors

It is when businesses assume that the customers were mostly interested to product availability

and price, thus resulting to mass production.

• Production Concept

• Product Concept

• Selling Concept

• Marketing Concept