1. What is a budget? a. A budget is a financial plan for managing income and expenses. b. A budget is a type of investment strategy. c. A budget is a list of all the products a company sells.

A budget is a financial plan for managing income and expenses.

A budget is a type of investment strategy.

A budget is a list of all the products a company sells.

What is the specific goal of product promotion?

To increase awareness and sales of a product.

To reduce the price of a product.

To limit the availability of a product.

What are four uses of product promotion?

Four uses of product promotion are: 1) Increasing brand awareness, 2) Boosting sales, 3) Introducing new products, 4) Enhancing customer loyalty.

What is the purpose of primary product promotion?

To increase consumer awareness and demand for a product.

To promote only secondary products.

To limit the availability of a product.

what is the purpose of secondary product promotion?

To increase awareness and sales of complementary products.

To promote only seasonal items.

To eliminate competition in the market.

What is the primary goal of institutional, or corporate, promotion?

To enhance the organization's image and reputation.

To conduct market research and analysis.

To develop new products and services.

What is the purpose of each of the following types of institutional promotion: public service, public relations, and patronage?

Public service promotion informs the public about important issues, public relations builds a positive image with stakeholders, and patronage supports cultural initiatives.

Public service promotion focuses on advertising products.

Public relations aims to increase sales directly.

What is the general purpose of the marketing functions?

To identify customer needs and create value.

To increase product prices without justification.

To limit customer access to products.

What are the seven marketing functions?

Market Research, Product Development, Pricing, Promotion, Distribution, Selling, Customer Service

Customer Feedback, Inventory Management, Online Marketing, Lead Generation

Market Analysis, Brand Strategy, Advertising, Networking

Why must the seven marketing functions work together?

To ensure a cohesive marketing strategy that effectively reaches and engages the target audience.

To focus solely on one marketing function at a time.

To create confusion among the marketing team.

What could happen if a business does not engage in market planning?

The business may experience decreased sales and wasted resources.

Sales will increase without any planning.

The business will gain a competitive advantage.

Why is pricing an important marketing function?

Pricing is important because it impacts revenue, consumer perception, and market competitiveness.

Pricing is irrelevant to customer satisfaction.

Pricing decisions are solely based on competitor prices.

Why is channel management important for successful marketing?

Channel management is important because it optimizes product distribution, enhances customer engagement, and aligns marketing strategies with customer preferences.

Channel management is only relevant for large corporations.

It focuses solely on reducing marketing costs.

How does the selling function benefit business, customers, and society?

The selling function benefits business by generating revenue, customers by providing access to products, and society by driving economic growth.

The selling function increases production costs for businesses.

Customers benefit from selling by receiving lower quality products.

Pricing is the process of determining the value or cost of a product or service.

Pricing is the method of producing goods in bulk.

Pricing is the act of selling products at a discount.

Why are ethics important in pricing?

Ethics are important in pricing to ensure fairness, build trust, and promote sustainable business practices.

Ethics complicate the pricing process unnecessarily.

Ethics are irrelevant to pricing strategies.

What does customer service in selling mean?

Customer service in selling means providing support and assistance to customers throughout the sales process.

Customer service in selling is only about making a sale.

Customer service in selling means ignoring customer inquiries.

How does customer service affect competition among sales organizations?

Customer service enhances competition by influencing customer loyalty and satisfaction, impacting market share.

Customer service has no impact on competition.

Customer service is irrelevant to customer satisfaction.

How can salespeople provide customer service before the sale closes?

Salespeople can enhance customer service by listening to needs, answering questions, and providing personalized support.

Salespeople should avoid engaging with customers until after the sale.

Salespeople should focus solely on closing the deal without addressing customer concerns.

How can salespeople provide customer service after the sale closes?

Salespeople can follow up, address concerns, offer support, and maintain communication.

Provide no further assistance after the sale

A goal is a desired outcome or objective.

What is the difference between a short-term goal and a long term goal goal?

Short-term goals are achieved in the near future; long-term goals take years to accomplish.

Short-term goals are always more important than long-term goals.

Long-term goals can be achieved in a few weeks.

What are the benefits of setting goals?

The benefits of setting goals include improved focus, increased motivation, better time management, and measurable progress.

Setting goals leads to procrastination.

Goals are only useful for businesses.

Where does selling occur?

Retail stores, online marketplaces, trade shows, auctions

How are products sold?

Products are sold through retail, online, direct sales, and wholesalers.

Products are sold only through auctions.

Products are sold exclusively in physical stores.

How do salespeople assist customers during the sales process?

Salespeople assist customers by understanding their needs and providing relevant product information.

Salespeople only focus on closing the sale without considering customer needs.

Salespeople assist customers by offering discounts regardless of product relevance.

Marketing

Quiz

•

Business

•

11th Grade

•

Practice Problem

•

Hard

Dahmari Thomas

FREE Resource

A balance sheet is a financial statement that shows a company's assets, liabilities, and equity at a specific point in time.

A balance sheet is a document that lists a company's sales and revenue over a year.

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Marketing

35 questions

1.      What is promotion?
a.       A type of discount offered to customers
b.      Employee evaluation in a company
A marketing function needed to communicate information

Who uses promotion?

1.      How does promotion persuade?
a.       Promotion only increases brand awareness
b.      By influencing consumer behavior and driving sales
c.       Promotion is solely about advertising costs

What are the benefits of promotion?

What does promotion benefits?

What are primary data?

What are balance sheets?

1.      What is a budget?
a.       A budget is a financial plan for managing income and expenses.
b.      A budget is a type of investment strategy.
c.       A budget is a list of all the products a company sells.

What is an example of a digital marketing analytics?

What is an example of a source of competitor data?

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Business

Marketing

35 questions

1. What is promotion?a. A type of discount offered to customersb. Employee evaluation in a companyA marketing function needed to communicate information

Who uses promotion?

1. How does promotion persuade?a. Promotion only increases brand awarenessb. By influencing consumer behavior and driving salesc. Promotion is solely about advertising costs

What are the benefits of promotion?

What does promotion benefits?

What are primary data?

What are balance sheets?

1. What is a budget?a. A budget is a financial plan for managing income and expenses.b. A budget is a type of investment strategy.c. A budget is a list of all the products a company sells.

What is an example of a digital marketing analytics?

What is an example of a source of competitor data?

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Business

1. What is promotion?
a. A type of discount offered to customers
b. Employee evaluation in a company
A marketing function needed to communicate information

1. How does promotion persuade?
a. Promotion only increases brand awareness
b. By influencing consumer behavior and driving sales
c. Promotion is solely about advertising costs

1. What is a budget?
a. A budget is a financial plan for managing income and expenses.
b. A budget is a type of investment strategy.
c. A budget is a list of all the products a company sells.