Fundamentals of Marketing Video Flashcard

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Marketing is around you every day. It affects every purchasing decision you make from where and when you shop to the items you purchase and how you use those items. True or False?

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True

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Distribution, the second function of marketing, is obtaining the funds needed to operate to business.

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False

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The sixth function of marketing is promotion. It communicates the value of the business' products and services to customers.

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True

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The mix of variables marketers control to influence a business success is called the marketing mix, or the four Ps of marketing. These are price, product, place, and promotion. True or False?

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True

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When a business divides the mass market based on shared characteristics to better satisfy the needs of one or more segments, this is called market segmentation.

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True

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Is mass marketing the same for everyone, as in the case of Taco Bell?

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False

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Demographics, psychographics, and geography are the most commonly used methods for segmentation.

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True

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Geographic is the statistical data which classify people.

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False

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Market research can be categorized in many ways. The first way to classify research is as either primary or secondary research.

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True

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Qualitative research methods include interviews, observation, and small group discussions known as focus groups.

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True