What is the purpose of a written set of guidelines in a profession?

To provide a consistent ethical framework

To outline the company's favorite color

To regulate employee hobbies and interests

What are the important factors to consider when building a resume?

Including irrelevant information

Choosing an unprofessional font

Why is it important to spell check a resume?

To catch spelling errors and ensure professionalism

To show off your excellent spelling skills

What does the price element of marketing refer to?

The amount of money that is exchanged for the product

The location where the product is sold

The promotional activities carried out for the product

The process of distributing the product to customers

What does the place element of marketing involve?

Distributing the product to customers at the right place and right time

Obtaining, developing, maintaining, and improving a product or service mix

Setting the value and costs of goods and services

Communicating information to customers about the product

How are the 4 elements of the marketing mix connected?

Changes in one element impact all other elements

They operate independently of each other

Changes in one element do not affect the others

They are not interconnected in any way

What does the marketing function of distribution refer to?

The management of transportation, storage, and inventory tracking systems

Budgeting for marketing activities and assisting customers in paying for products

Market research and gathering of information/data

Obtaining, developing, maintaining, and improving a product or service mix

What does financing include in marketing?

Budgeting for market activities and raising capital for financing

Communicating information to customers about the products

The process of distributing products to customers

Gathering, storing, and analyzing market research data

What is the role of marketing information management?

Gathering and analyzing data to make marketing decisions

Establishing and communicating the value of goods and services

Determining client wants and needs through personalized communication

Managing transportation, storage, and inventory tracking systems

The marketing function of pricing is based on?

What competitors charge for the same product or service

The cost required to develop the good or service to make a profit

The process of establishing and communicating to customers the value and costs of goods and services

What does the marketing function of selling involve?

Determining client wants and needs through personalized communication

The management of transportation, storage, and inventory tracking systems

Budgeting for market activities and raising capital for financing

Gathering and analyzing data to make marketing decisions

What is the purpose of promotion in marketing?

To communicate information to inform, persuade, or remind customers

To distribute products to customers at the right place and right time

To gather information/data for market research

To obtain, develop, maintain, and improve products or services

What is the product in marketing?

The goods, services, ideas, events, people, etc. being offered

The amount of money that is exchanged for the product

The location where the product is sold

The process of distributing the product to customers

Which of the following is NOT a part of distribution in marketing?

Determining client wants and needs through personalized communication

Managing transportation, storage, and inventory tracking systems

Transferring ownership of goods and services

Ensuring products get into the hands of customers at the right place and time

What does the marketing function financing involve?

Budgeting for all market activities and assisting customers in paying for products

The process of establishing and communicating the value and costs of goods and services

Determining client wants and needs through personalized communication

Managing transportation, storage, and inventory tracking systems

What is the function of marketing information management?

Gathering, storing, analyzing, and evaluating data for decision-making

Setting the value and costs of goods and services

Distributing products to customers at the right place and right time

Obtaining, developing, maintaining, and improving products or services

What is the role of product service management in marketing?

Obtaining, developing, maintaining, and improving products or services

Communicating information to customers about the products

Determining client wants and needs through personalized communication

Gathering, storing, and analyzing market research data

What are some advantages of mass marketing?

Lower cost, one advertising campaign needed, standardized products, defined message

Higher cost, customized products, undefined message

Higher cost, multiple advertising campaigns needed, customized products, defined message

Lower cost, multiple advertising campaigns needed, standardized products, undefined message

What are some disadvantages of mass marketing?

Doesn't take consumer differences and preferences into account, leaves the brand vulnerable, can easily be challenged

Takes consumer differences and preferences into account, strengthens the brand, can easily be challenged

Doesn't take consumer differences and preferences into account, strengthens the brand, can easily be challenged

Takes consumer differences and preferences into account, leaves the brand vulnerable, can easily be challenged

What is market segmentation?

The process of breaking down the total market into smaller segments and classifying customers

The process of identifying the most effective marketing tactics

The process of creating hyper-targeted ads

The process of attracting and converting quality customer leads

What are some advantages of market segmentation?

Lower marketing costs, standardized marketing messages, broader target audience

Higher marketing costs, customized marketing messages, narrower target audience

Higher marketing costs, standardized marketing messages, broader target audience

Lower marketing costs, customized marketing messages, narrower target audience

What is the definition of a consumer market?

Consists of consumers who purchase goods or services for personal use

Consists of businesses who purchase for use in the operation of their business

Consists of wholesalers who purchase products for resale

Consists of manufacturers who purchase raw materials

What is the definition of an industrial market?

Consists of businesses who purchase for use in the operation of their business

Consists of consumers who purchase goods or services for personal use

Consists of wholesalers who purchase products for resale

Consists of manufacturers who purchase raw materials

What are the common bases of market segmentation?

Demographic, geographic, and behavioral

Psychographic, demographic, and geographic

Behavioral, psychographic, and geographic

Geographic, behavioral, and demographic

What does SWOT analysis help businesses analyze?

Successful factors and failure factors

What are the four components of SWOT analysis?

Strengths, weaknesses, opportunities, and threats

Successes, weaknesses, organization, and trends

Strategies, weaknesses, opportunities, and timeframes

Strengths, weaknesses, objectives, and targets

Any tangible object a customer can purchase to satisfy wants and needs

Any intangible activity exchanged directly from producer to consumer

Any item that is consumed at the time of production

Any intangible object a customer can purchase to satisfy wants and needs

Any intangible activity exchanged directly from producer to consumer

Any tangible object a customer can purchase to satisfy wants and needs

Any item that is consumed at the time of production

Any intangible object a customer can purchase to satisfy wants and needs

What is a product mix?

All the different products that a company makes or sells

A group of closely related products manufactured or sold by a business

The number of different product lines a manufacturer sells

The number of items offered within each product line

What is a product line?

A group of closely related products manufactured or sold by a business

All the different products that a company makes or sells

The number of different product lines a manufacturer sells

The number of items offered within each product line

What does product width refer to?

The number of items offered within each product line

The number of different product lines a manufacturer sells

The number of products a company makes or sells

The classification of products by their functions

What does product depth refer to?

The number of different product lines a manufacturer sells

The number of items offered within each product line

The number of products a company makes or sells

The classification of products by their functions

What are the four phases of the product life cycle?

Introduction, growth, maturity, and decline

Development, growth, maturity, and decline

Introduction, establishment, maturity, and decline

Development, establishment, stabilization, and decline

A name, term, design, or symbol that identifies a business, product, or service.

A word that represents a product or service.

A combination of elements that identifies a business.

A unique symbol that sets a business apart from competitors.

MP Final Review

Quiz

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others

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9th - 12th Grade

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Practice Problem

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Hard

Whitney Van Atta

Used 3+ times

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Employee hobbies and interests

The corporate dress code

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