Abigail is responsible for managing a line of sports equipment at her company. She needs to explain why Product/Service Management is important in marketing. Fill in the chart below for each of the 7 functions of marketing: Marketing Function: Product/Service Management Explain its importance: __________

Ensures products meet customer needs and are updated or improved as needed.

Focuses only on advertising products to customers.

Deals exclusively with setting prices for products.

Handles only the financial records of the company.

Zoe runs a small bakery and wants to make sure her cakes reach customers quickly and in perfect condition. Fill in the chart below for the marketing function she is focusing on: Marketing Function: Distribution Explain its importance: __________

Gets products to customers efficiently and in good condition.

Creates advertisements for products.

Designs the packaging for products.

Abigail is responsible for the Finance function in her company's marketing department. Fill in the chart below to explain why this function is important: Marketing Function: Finance Explain its importance: __________

Manages budgeting, funding, and financial planning for marketing activities.

Handles product design and packaging decisions.

Focuses on customer service and support.

Develops advertising campaigns and promotional materials.

Elijah is starting a new business and wants to make smart marketing decisions. He knows that one of the 7 functions of marketing is Marketing Information Systems/Market Research. Explain its importance for Elijah's business: __________

Collects and analyzes data to inform marketing decisions.

Designs product packaging for visual appeal.

Handles the transportation of goods to retailers.

Sets the price for products based on competition.

Maya owns a small bakery and is deciding how much to charge for her cupcakes. Fill in the chart below for the marketing function: Pricing. Explain its importance: __________

Determines the value of products and influences sales and profits.

Helps in designing the product packaging.

Focuses on hiring and training employees.

Ensures the product is environmentally friendly.

Charlotte is preparing a marketing plan for a new product. She needs to fill in the chart below for each of the 7 functions of marketing. For the Marketing Function: Promotion, explain its importance: __________

Communicates product benefits and persuades customers to buy.

Sets the price for the product based on market demand.

Handles the physical movement of goods from producer to consumer.

Manages the financial resources of the company.

Anika works at a local electronics store. She spends her day talking to customers, understanding their needs, and helping them choose the right products. Fill in the chart below for each of the 7 functions of marketing: Marketing Function: Selling Explain its importance: __________

Directly interacts with customers to complete sales.

Focuses on product design and innovation only.

Handles only the financial aspects of marketing.

Manages the transportation of goods exclusively.

Evelyn owns a company that manufactures organic skincare products. To ensure her products reach customers effectively, the channel of distribution she chooses should be ______, ______ and ______.

efficient, cost-effective, and timely

expensive, lengthy, and complicated

random, unpredictable, and slow

inefficient, costly, and delayed

Benjamin is starting a small business and wants to understand how to use the resources available to him most effectively. In economics, the resources, or factors of production, that Benjamin should consider include

Land, Labor, Capital and Entrepreneurship

At a local farmers' market, supply refers to the quantity of fruits and vegetables that:

Producers are willing and able to manufacture

Consumers are willing and able to purchase

Ava visits a market and sees various products. Demand is the quantity of goods and services that:

Consumers are willing and able to purchase

Producers are willing and able to manufacture

William decides to purchase a baseball glove for $50 instead of a baseball bat. The opportunity cost of the decision to purchase the glove is which of the following?

Another item William could have purchased for $50

The time spent making the decision on which glove to purchase

The time William spent saving for the glove

In a country where both the government and individuals are involved in deciding what goods are produced, how they are produced, and who gets them, who makes the decisions for the 3 economic questions? Economic System: Mixed

Both government and individuals

(E14) Charlotte is at the grocery store and needs to buy something for breakfast. She quickly grabs a loaf of bread, a product she purchases often and without much planning. Below are the 4 types of economic classifications for consumer products and their explanation. Give an example and explain how the 4P’s might be different for that type of product. Classification: Convenience Explanation: Products purchased without much planning because they are purchased frequently.

Example: Bread (or any frequently purchased item)

Example: Refrigerator (or any infrequently purchased item)

Example: Luxury car (or any high-end item)

Example: Designer dress (or any specialty item)

Benjamin is considering buying a new television and is researching different brands and models before making a decision. Based on the 4 types of economic classifications for consumer products, give an example and explain how the 4P’s might be different for that type of product.

Example: Television (or any item purchased after research)

Example: Bread (or any item purchased frequently and with little thought)

Example: Luxury car (or any item purchased for status and exclusivity)

Example: Toothpaste (or any item purchased for routine use)

(E14) Elijah is passionate about cars and has always dreamed of owning a specific luxury car brand because of its unique features and reputation. He is willing to travel to another city and pay a premium price just to purchase this car. Below are the 4 types of economic classifications for consumer products and their explanation. Give an example and explain how the 4P’s might be different for that type of product. Classification: Specialty Explanation: Products that consumers will go out of their way to purchase because of unique characteristics or brand loyalty.

Example: Luxury car (or any specialty item)

Example: Standard ballpoint pen

31. (E14) Michael works at a car manufacturing company. Which of the following is an example of an item the company would purchase as a raw material, and what is its purpose?

Steel purchased for manufacturing car bodies

Office chairs purchased for employee comfort

Computers purchased for administrative tasks

Delivery trucks purchased for transportation

Zoe owns a manufacturing company and needs to purchase materials to create products for consumers. Which of the following is an example of an item Zoe might buy and how her business would use it?

Example: Steel. How a business would use it: To manufacture products such as cars or appliances.

Example: Paper. How a business would use it: To build houses.

Example: Glass. How a business would use it: To make clothing.

Example: Wood. How a business would use it: To produce smartphones.

Scarlett runs a company that manufactures smartphones. She needs to purchase items that can be added directly to her products without any modification. Which of the following is an example of such an item, and how would her business use it?

Example: Computer chips. How a business would use it: To assemble into electronic devices such as laptops or smartphones.

Example: Raw cotton. How a business would use it: To manufacture textiles by spinning and weaving.

Example: Paint. How a business would use it: To change the color of furniture before selling.

Example: Wheat. How a business would use it: To bake bread in a bakery.

Scarlett's company is expanding its manufacturing operations and needs to purchase major machinery that will be used to produce products for the business. Fill in an example of an item Scarlett's company might purchase and state how the business would use it.

Example: Industrial press. How a business would use it: To manufacture metal parts for products.

Example: Office chair. How a business would use it: For employees to sit at their desks.

Example: Coffee machine. How a business would use it: To provide beverages for staff.

Example: Wall clock. How a business would use it: To keep track of time in the office.

Oliver is setting up a small manufacturing workshop. He needs to purchase less expensive tools that are used in the production process or indirectly for the business. These goods will not last as long as installations. Fill in an example of an item Oliver might purchase and state how his business would use it.

Example: Hand tools. How a business would use it: For assembly or maintenance tasks in the production process.

Example: Office furniture. How a business would use it: For employee seating in the reception area.

Example: Company vehicles. How a business would use it: For transporting goods to customers.

Example: Computer servers. How a business would use it: For hosting the company website.

Henry manages a small business and is reviewing items that are often overlooked until they are urgently needed. Classification: Unsought. Explanation: Products that consumers do not know a lot about or they do not think of purchasing until they are needed. Fill in an example of an item purchased by a company and state how a business would use it.

Example: Fire extinguishers. How a business would use it: For emergency safety purposes.

Example: Office chairs. How a business would use it: For employee seating.

Example: Coffee machines. How a business would use it: For employee refreshments.

Example: Company logo stickers. How a business would use it: For branding on products.

(E15) Priya is starting a new business and wants to ensure her products are valuable to customers. She learns that economic utilities can be briefly explained as:

Form, place, time, and possession utilities that add value to products and services.

Only the physical transformation of goods.

The process of selling goods to consumers.

The use of technology in production.

Marketing Assessment of KNow

Authored by Kimberly Herrington

Other

11th Grade

Used 1+ times

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

(E01) Evelyn is starting a new business selling handmade candles. She needs to understand the process of promoting, selling, and distributing her products to customers. What is this process called?

The process of promoting, selling, and distributing a product or service.

The act of manufacturing goods in a factory.

The process of hiring employees for a company.

The method of accounting for business expenses.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Emma runs a small bakery. She wants her business to follow the marketing concept. Which of the following should Emma focus on the most?

Make a profit

Satisfy Customers

Gain market share

Increase sales

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Henry is shopping for a new phone. He notices that marketing has helped consumers in several ways: a. Lowering ___ of goods through competition b. customers about goods and services c. Offering a _ _____ of products and services. Fill in the blanks to explain how marketing has helped Henry and other consumers.

a. prices b. informing c. wide variety

a. taxes b. confusing c. limited range

a. costs b. ignoring c. small selection

a. expenses b. misleading c. narrow choice

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

(E04) Luna wants to start her own bakery and needs to gather the money required to launch and run her business. This process is a marketing function known as ___________.

financing

pricing

promotion

distribution

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

(E04) Sophia works at Apple and is part of the team responsible for improving features of the IPOD by developing a newer, more up-to-date version. In this situation, Sophia and her team have conducted the marketing function known as ___________.

product/service management

promotion

channel management

selling

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

(E04) Six Flags Amusement Park wants to start offering more games in the game area that will attract more teenagers. While at the park, you are asked to complete a questionnaire about games you would like them to offer. This is an example of the ___________ marketing function.

marketing-information management

selling

financing

product/service management

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

(E04) You were just hired at PetSmart to be a cashier. Your job includes running the cash register and assisting customers with their needs. This job is an example of the ___________ marketing function.

selling

pricing

promotion

financing

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Marketing Assessment of KNow

(E01) Evelyn is starting a new business selling handmade candles. She needs to understand the process of promoting, selling, and distributing her products to customers. What is this process called?

Emma runs a small bakery. She wants her business to follow the marketing concept. Which of the following should Emma focus on the most?

(E04) Luna wants to start her own bakery and needs to gather the money required to launch and run her business. This process is a marketing function known as ___________.

(E04) Sophia works at Apple and is part of the team responsible for improving features of the IPOD by developing a newer, more up-to-date version. In this situation, Sophia and her team have conducted the marketing function known as ___________.

(E04) Six Flags Amusement Park wants to start offering more games in the game area that will attract more teenagers. While at the park, you are asked to complete a questionnaire about games you would like them to offer. This is an example of the ___________ marketing function.

(E04) You were just hired at PetSmart to be a cashier. Your job includes running the cash register and assisting customers with their needs. This job is an example of the ___________ marketing function.

(E04) The marketing function of ___________ is used when Mayfield Milk decides how many trucks to use to transport its products in a timely manner to reduce product spoilage.

(E04) Annie has decided to mark up the cost of the newest bathing suit line she just ordered for her boutique by 50%. This is an example of the _______ marketing function.

(E04) When Lois, a small business owner, decides to become a sponsor in his local community's annual Cancer Walk in order to create publicity for his company, he is making decisions in relation to the ________ marketing function.

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