Chapter 10.1 & 10.2 Review.

Define Marketing

• Activities a company or business does to promote and sell products or services to consumers.

• A plan to promote and sell a product or service

• Group of consumers a product or service is aimed at

• Business focusing on meeting customers needs by their products, pricing, distribution, and promotion strategies

How many marketing functions are there?

What are the 7 marketing functions?

Evaluate responses using AI:

OFF

What are the 2 steps in a developing market strategy?

• Choosing price

• Identifying a target market

• Developing a market mix

• Picking promotion

What is the third step in the decision-making process?

•  Gather information

• Determine the effectiveness of the decision

• Make a purchase decision

• Selecting and evaluate alternatives

Finish the statement: What is the FIRST step of the decision-making process?

What is the 5th step of the decision making process?

• Make a purchase decision

• Determine the effectiveness of the decision

• 1. Recognize a need

• Selecting and evaluate alternatives

TRUE OR FALSE: Pricing is a marketing function.

• True

• False

Choose an example of the consumer decision-making process.

• Buying new shoes focusing on price, quality, and style.

• A backpack company asking the public what they want in a backpack and fitting all the requirements in order to satisfy.

• Group of friends selling lemonade for $1 at a public park using big posters. Offering the product, a reliable price, the place, and promoting it.

• Student choosing a video game to buy by considering different options, reading reviews, and ultimately deciding based on their preferences and budget.

Choose the correct term for this definition: Individuals who buy a product or service for personal, family or household use instead of business use.

• Target market

• Business consumers

• Final consumers

• Marketing strategy