Marketing: 1-2 The Marketing Functions

What is the main goal of market planning?

• Developing financial forecasts

• Establishing budgets

• Creating new products

• Attracting the target customer

What does Marketing-Information Management involve?

• Researching the target market

• Directly communicating with customers

• Creating new products

• Managing customer interactions

What is the aim of selling in the context of marketing?

• Informing customers

• Influencing customers

• Persuading customers

• All of the above

What is the purpose of customer service in marketing?

• Attracting new customers

• Resolving customer problems

• All of the above

• Encouraging repeat business

What does Product/Service Management involve?

• All of the above

• Creating new products

• Updating existing products

• Getting rid of poor performing products

Why is pricing important in marketing?

• To ensure customer satisfaction

• To estimate and budget costs

• To communicate the brand message

• To establish the right price for the product

What is Channel Management in marketing?

• Negotiating with suppliers

• Identifying the target market

• Evaluating competing products

• Selecting the most favorable channels of distribution

What does Promotion involve in marketing?

• Creating new products

• Getting products to the right place at the right time

• Managing customer interactions

• Informing potential customers about the product

How do the marketing functions interact with each other?

• They work independently

• They are not related

• They all work together

• They have no impact on each other

What is the main purpose of marketing?

• To make selling superfluous

• To estimate and budget costs

• To communicate the brand message

• To persuade customers to buy products