M&A Chapter 1 quiz

What is the definition of "Competition" in a business context?

• The process of ideation, creation, promotion, and delivery of products.

• The rivalry between companies selling similar products and services.

• The individualized attention provided to customers.

• The transformation of ideas into tangible products.

Which term describes the process of transforming ideas into tangible products and services?

• Ideation

• Marketing

• Creation

• Promotion

What does "Customer Service" refer to?

• The process of ideation and creation.

• The individualized attention provided to customers throughout their lifespan.

• The rivalry between companies selling similar products.

• The combination of components used to strengthen a product’s brand.

What is "Ideation" in the context of business?

• To conceive and formulate new ideas and strategies.

• To transform ideas into tangible products.

• To inform potential customers about a product.

• To analyze and identify consumer’s needs and wants.

Which term refers to the process of ideation, creation, promotion, and delivery of profitable products and services to targeted customers?

• Marketing

• Marketing Mix

• Marketing Plan

• Marketing Strategy

What does "Marketing Concept" involve?

• Researching a business’s target market and customers.

• Creating strategies and establishing goals.

• Analyzing and identifying consumer’s needs and wants, and building products to satisfy those needs.

• Informing potential customers that a product or service exists.

What is "Marketing-Information Management"?

• The process of ideation and creation.

• Researching a business’s target market and customers, its competing products or services, and relevant trends within the industry.

• Creating strategies and establishing goals.

• Informing potential customers that a product or service exists.

Which term describes a combination of components used together to strengthen a product’s brand and help sell the product or service?

• Marketing Plan

• Marketing Mix

• Marketing Strategy

• Promotion

What is "Market Planning"?

• Creating strategies and establishing goals, objectives, processes, and procedures to reach and attract the target customer to a business.

• Researching a business’s target market and customers.

• Informing potential customers that a product or service exists.

• Analyzing and identifying consumer’s needs and wants.

What does a "Marketing Plan" outline?

• The process of ideation and creation.

• A company’s game plan for reaching its target market.

• Objectives, actions, and timelines of how to attract target market customers to the business.

• Informing potential customers that a product or service exists.