Create Semester Exam

Define Consumer

• Someone who buys and uses goods and services for personal needs, not for resale or production

• Designing, developing, maintaining, improving, and acquiring products or services so they meet customer needs

• A product that lasts a long time

• The assets a company carry out its marketing activities

What are the 4P's

• Product, Price, Place, and Promotion

• Promotion, Product, Producer, and Practice

• Price, Produce, Place, and Promotion

• Produce, Place, Price, and Promotion

Define Tangible

• Something we can feel, touch or see

• Products that are expected to last long

• Responsible for creating new business through advertising and public relations effort.

• A marketing technique that involves a salesperson directly communicating with a potential customer to build relationships and make a sale.

Define Advertising

• Advertising is a method for personal communication.
• Advertising is a form of public speaking.
• Advertising is a type of social media.
• Advertising is a communication method used to promote products, services, or ideas.

True or False:

A buyer is a person who makes purchases

• False

• True

True or False:

Durable goods are products that are expected to last a long time and can be used repeatedly.

• True

• False

Define Resources

• Resources are assets or materials used to achieve goals.
• Resources are only financial assets.
• Resources are solely human skills.
• Resources are irrelevant to achieving goals.

Define Target Market

• A target market is a random selection of consumers chosen for a survey.
• A target market is the total population of a country.
• A target market is a specific group of consumers that a business aims to reach with its products or services.
• A target market refers to all potential customers regardless of their preferences.

What are the 7 Functions of Marketing?

• Market Analysis, Distribution, Pricing, Product Service Management, Selling

• Pricing, Product, Brand Management, PSM, MIM, Promotion

• Marketing Information Management (MIM), Product Service Development, Pricing, Promotion, Distribution, Selling, Financing

• Advertising Strategy, PSM, MIM, Pricing, Product

Define Skimming

• Skimming involves reading every word carefully.
• Skimming is a method for memorizing text in detail.
• Setting Prices high for a new product or service, then gradually lowers it over time.

• Skimming is a technique for analyzing complex data.