Intro to Business Chapter 4

All good businesses start for the purpose of improving upon an existing solution or to __________________.

• create a new trend

• solve a problem

• increase profits

• expand their market

The Lamar High School STEM class wants to attract more female high school students to the class. Segmenting groups by gender and age, in this case females between the age of 15-18, is an example of:

• psychographic segmentation

• geographic segmentation

• demographic segmentation

• behavioral segmentation

What is an example of promotion?

• an advertisement on social media

• a product's price reduction

• a store's location change

• a new product launch event

What is the definition of marketing?

• The process of selling products to customers.

• The enterprise and pursuit of ideation, creation, communication, and delivery of profitable products and services to targeted customers for their benefit and society’s benefit.

• A strategy to increase brand awareness through social media.

• The act of advertising products to potential buyers.

Complete the sentence. Mass marketing involves a ______________ product and message.

• customized

• one-size-fits-all

• niche

• targeted

A route or plan of action designed to achieve certain goals and objectives is called a:

• tactic

• strategy

• method

• procedure

These are very specific actions used to support strategy, in order to achieve your goals and objectives:

• strategies

• tactics

• objectives

• goals

This is similar to a goal, in that it has an observable and measurable end result to be achieved within a certain time frame, but is shorter term in nature than a goal:

• objective

• aim

• target

• intention

What are products?

• Physical items/goods or services companies sell

• Items that are only sold online

• Services that are provided for free

• Only tangible goods that can be touched

Marketing is a _________________ discipline of _________________ functions.

• multifaceted, interrelated

• simple, unrelated

• complex, independent

• static, singular