Business Essentials Topic 4, Lesson 3 Quiz

What is are steps of a Marketing Strategy?

• 1. 1. Identify a Target Market

     1. 2. Create a Marketing Mix

• 1. 1. Create a Marketing Mix

     1. 2. Identify a Target Market

• 1. Create a plan

  2. 2. Execute a Plan

• 1. Create a product

  2. Select a price

  3. 3. Select a place to sell it

     4. 4. Promote it

A company's plan that identifies how it will use marketing to achieve its goals

• Marketing Strategy

• Marketing Mix

• Target Market

• Marketing

A specific group of consumers who have similar wants and needs

• Target Market

• Market Segmentation

• Marketing Strategy

• Group

Which of the following is NOT a segmentation type we learned in class

• Geographic

• Demographic

• Psychographic

• Behavioral

Match the following

• segmented by their personal statistics

• Demographic

• based on where customers live

• Geographic

• Preference or lifestyle choices

• Psychographics

Organize these options into the right categories

Groups:

(a) Geographic

,

(b) Demographic

,

(c) Psychographics

• Rural

• County

• Ethnicity

• Values

• Region

• Motives

• Income

• City

• Education

• Terrain

• Climate

• Race

• Gender

• Lifestyle

• Suburban

• Personality traits

• Age

• Religion

• Family Size

Which of the following is NOT one of the 4 P's

• Product

• Place

• Price

• Promotion

• Position

Match the following

• Product

• refers to where customers find and purchase the product. It involves making products available to customers when and where they want them

• Promotion

• refers to how much customers pay for the product. It is what a buyer must give up in order to get a product

• Place

• refers to what you are selling. It is the actual goods or services that meet customers' needs

• Price

• • refers to how you let customers know about your product. It includes advertising, personal selling, public relations, sales promotion, and social media

How many P's are there in a Marketing Mix?

• 1

• 2

• 3

• 4