Marketing Principles Final Review

________________ is the process of planning, pricing, promoting, selling and distributing ideas.

• Distribution

• Marketing

• Financing

• Exchanges

What are the four foundations of marketing? Select all that apply. (there is more than one answer)

• Economics

• Business Management/Entrepreneurship

• Selling

• Professional Development

• Communication/Interpersonal Skills

_______________ are tangible items that have monetary value.

• Services

• Demand

• Business

• Goods

__________________ is the idea that a business should strive to satisfy customers' needs and wants.

• Marketing Mix

• Target Market

• Marketing Concept

• Promotion

________________ refers to a company ceasing operations following its inability to make a profit.

• Marketing

• Business failure

• Opportunity

• Needs

____________ is the process of classifying people who form a given market into even smaller groups.

• Market Share

• Market Segmentation

• MArketing Mix

• Marketing Plan

This is contacting a potential customer without any prior knowledge about them

• Pre-approach

• Cold-calling

• Referring

• Prospecting

_______________refer to statistics that describe a population in terms of personal characteristic such as age, gender, income, marital status, ethnic background, education, and occupation.

• Psychographics

• Geographics

• Market segmentation

• Demographics

________________refers to segmentation of the market based on where people live.

• Demographics

• Target market

• Geographics

• Marketing strategy

_________________is a formal, written document that directs a company's activities for a specific period of time.

• Marketing Plan

• Marketing Mix

• Marketing strategy

• Geographics