WorksheetsMBE 2.2, 2.3, and 7.0 Review
Total questions: 27
Worksheet time: 20mins
What is necessary for your business to grow?
Product
Customer and Employees
Promotion
Place
Which of the following calculations are correct?
retail price + cost = markup
cost + markup = retail price
markup - cost = retail price
cost - retail price = markup
What does S.A.V.E. stand for?
Solution
Access
Value
Education
Solve
Access
Value
Educate
Say
Advocate
Value
Express
Solve
Amplify
Value
Education
Customers have concerns about price, but only after their concerns about:
Quantity
Shipping time
Value
The company selling the product
What is a Market Segmentation?
A marketing term that refers to where you go to buy the product.
A marketing term that refers to how long it takes to patent your product.
A marketing term that refers to the process of getting your products shipped from overseas.
A marketing term that refers to the act of putting prospective buyers into groups.
What does physical evidence have to do with marketing?
Physical evidence refers to making sure you give your customers evidence that you are a real business.
Physical evidence refers to everything your customers see when interacting with your business.
Physical evidence refers to having proof that everything is real.
Physical evidence refers to having evidence that the food or product is exactly the same for everything.
What are some examples of demographics? (Check all that apply)
Age Range
Personality
Level of Education
Religion
What does "Process" refer to in marketing?
Being the cheapest brand and making your process less costly so you don't lose as much money but make more money.
Processes that refer to people's backgrounds and how they decided that the brand is the best to use.
Processes refer to how a product is manufactured or made and who or what brand you decide to use.
Process refers to the processes involved in delivering your products and services to the customer. It is also about being 'easy to do business with'.
Which of the following is NOT one of the 5P's of marketing?
product
place
people
price
pressure
Of the 7P's model, what are the two additional "P's"?
processes and physical evidence
processes and people
physical evidence and promotion
people and power
Many organizations are moving their business model from product-oriented to service-and solution-oriented.
True
False
S.A.V.E. stands for...
Solve, Amplify, Value, Education
Solve, Access, Value, Educate
Say, Advocate, Value, Express
Solution, Access, Value, Education
The "A" in S.A.V.E refers to the:
Product
Place
Price
Promotion
The "S" in S.A.V.E refers to the:
Product
Place
Price
Promotion
The "V" in S.A.V.E refers to the:
Product
Place
Price
Promotion
The "E" in S.A.V.E refers to the:
Product
Place
Price
Promotion
Psychographics include:
Age range
City
Hobbies/Interests
User Rate
Brand loyalty would be considered a type of demographic segmentation.
True
False
This type of utility is created by changes in the form or shape of a product to make it useful.
form
place
service
possession
This type of utility is created by having a good or service at the location where it is needed or wanted.
time
place
possession
information
This type of utility is created when a product or service is available when it is needed or wanted by consumers.
service
information
place
time
This type of utility is created when ownership of a good or service is transferred from one person to another, but it may also occur through renting or borrowing.
information
place
possession
service
This type of utility explains product details (color, size, weight, quantity, price). It also tells where and how the product can be purchased.
time
place
service
information
This type of utility is created when customer support is provided before, during, and after the purchase.
service
information
place
time
A system for collecting, recording, and analyzing information about customers, competitors, goods, and services.
market segmentation
market research
target market
market data
A list of questions to ask your customers to find out demographic and psychographic information.
survey
focus group
market research
economic utility
An in-depth interview with a group of target customers who provide valuable ideas on products or services.
survey
focus group
market data
market research
