Marketing Fundamentals Review

What is the primary goal of marketing according to the notes?

• Increasing production efficiency

• Creating and keeping a good relationship between businesses and customers

• Reducing operational costs

• Expanding the company's physical locations

How do companies use marketing to influence customers?

• By offering free products

• By creating complex financial strategies

• By getting people to notice and buy their products

• By hiring more employees

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

• Product

• Price

• Place

• People

What is included in the Marketing Mix?

• Product, Price, Place, Promotion

• Product, Price, People, Promotion

• Product, Price, Place, People

• Product, Price, Promotion, People

What is the main reason a consumer purchases according to our notes?

• Products

• Benefits

• Brands

• Designs

What aspects are included in what you are selling according to the notes?

• Price, location, service, warranty

• Brand, design, quality, packaging

• Color, size, shape, material

• Functionality, durability, efficiency, cost

What must products satisfy according to the learning material?

• A customer's want or need

• A company's profit margin

• A supplier's demand

• A competitor's strategy

What are consumers often heavily influenced by?

• Price and availability

• Brand name or packaging

• Store location

• Employee recommendations

What can create customer loyalty according to the notes?

• Lower prices

• Adding extra services or warranties

• Faster delivery times

• More advertising

What type of products often have a high success rate?

• Discounted products

• New and improved products

• Imported products

• Seasonal products