Marketing Functions (MK-002)

There are many activities in marketing that are interrelated and similar in purpose. These activities are referred to as marketing

• responsibilities

• functions

• tactics

• strategies

Ryan is working with his marketing team to set goals and create a budget for the upcoming year. Which marketing function is Ryan performing?

• Selling

• Product/Service management

• Pricing

• Market planning

Which marketing function involves creating the correct product mix for a business?

• Product/Service management

• Selling

• Marketing-information management

• Financing

Making both buyers and sellers feel they are getting good value is part of the __________ function of marketing.

• promotion
• pricing
• financing
• purchasing

Gathering, accessing, synthesizing, evaluating, and disseminating data for use in making business decisions is the responsibility of

• market planning

• product/service management

• marketing-information management

• product development

Communicating information to consumers or clients about products, images, or ideas to achieve a desired outcome is the __________ function.

• purchasing
• pricing
• planning
• promotion

Which marketing function involves determining where products will be sold?

• Channel management

• Servicing

• Promotion

• Selling

In what marketing activity do businesses engage to meet the wants and needs of consumers?

• Market planning

• Cost-benefit analysis

• Product/Service management

• Pricing

A product being in great demand is a factor that might encourage businesses to

• decrease inventory.

• contact competitors.

• adjust prices.

• gather information.

Identify the marketing function in the following situation: While shopping at the mall, Susan is asked her opinion of different brands of shampoo.

• Promotion

• Marketing-information management

• Behavioral segmentation

• Specialty advertising