Marketing: 1-2 The Marketing Functions

According to Jeff Bezos, what is a brand for a company like?

• A. A logo

• B. A reputation for a person

• C. A product

• D. A tagline

What did Yogi Berra say about not knowing where you are going?

• A. You'll end up in the wrong place

• B. You'll end up someplace else

• C. You'll never reach your destination

• D. You'll get lost

What is the purpose of Market Planning?

• A. Creating new products

• B. Establishing budgets

• C. Directly communicating with customers

• D. Resolving customer problems

What does Marketing-Information Management involve?

• C. Managing customer interactions

• B. Creating financial forecasts

• D. Developing new products

• A. Researching the target market and customers

What is the aim of marketing according to Peter Drucker?

• C. To persuade customers to buy

• A. To make a profit

• B. To make selling unnecessary

• D. To create brand awareness

What is the purpose of Customer Service?

• D. Create financial forecasts

• C. Develop new products

• B. Persuade customers to buy

• A. Encourage repeat business

What does Product/Service Management involve?

• A. Pricing the products

• D. Resolving customer problems

• B. Creating new products

• C. Managing customer interactions

What is the purpose of Pricing?

• A. Communicating the brand message

• D. Determining the product cost

• B. Developing new products

• C. Encouraging repeat business

What is the potential consequence of pricing a product too low?

• A. Not enough people will buy it

• C. The business will struggle

• D. All of the above

• B. Customers may assume it is of insufficient quality

What is the ultimate goal of marketing?

• A. Making a profit

• C. Connecting a business to its target market

• D. Developing new products

• B. Creating brand awareness