DECA Marketing

What is Marketing?

• the process of planning, pricing, promoting, selling and distributing products that will satisfy the

  needs of customers and ensure a profit for the business.

• activities a company undertakes to promote the buying or selling of a product or service.

• the process of identifying customers and "creating, communicating, delivering, and exchanging" goods and services for the satisfaction and retention of those customers

• All of the above

Marketing is one of the most important business functions in U.S. and international companies.

• True

• False

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

Which TWO are a marketing concept?

• Identify needs of customers

• More product availability to customers

• Provide a service to sell to consumers or other businesses.

• Operate a business profitably

Marketing__________

• manages income and expenses and maintains financial records

• Management develops, implements, and evaluates business plans

• maintains daily activities and resources of the business

• exchanges products and services with customers

In a ________ economy, the government answers the three economic questions.

• Command

• Free

What is a Monopoly?

• a market in which one supplier offers a unique product.

• The traditional examples of industries in pure competition are producers of agricultural products

• it is a straight line at one price.

Profit Motive is

• • an individual view of the worth of a product or service.

• the use of resources to obtain the greatest financial gain.

• independent decisions by businesses and consumers with only a limited government role regulating those relationships.

In a__________resources are owned by individuals rather than the government.

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

A clearly defined segment of the market to which a business wants to appeal.

• Market Opportunity Analysis

• Market Segment

• Target Market

• Market Opportunities

Buying behavior is the process by which consumers collect and analyze information to make choices among alternatives.

• True

• False

Tags

CCSS.RI. 9-10.8

CCSS.RI.11-12.5

CCSS.RI.11-12.8

CCSS.RI.8.5

CCSS.RI.9-10.5