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WorksheetsFinal Review (ELs 1-5) Marketing Fundamentals
Total questions: 30
Worksheet time: 18mins
Identifying and understanding the markets a company wants to serve is which Market Function?
Finance
Distribution
Market Planning
Selling
(a) is a group of people that an individual admires, identifies with, and wants to be a part of.
Which segmentation category is based on age, gender, race, income, and education level:
Geographic
Psychographics
Demographic
Benefit Expectations
(a) is a consumer who buys a product and uses it in a product they will later sell.
What is the basic economic problem?
Natural Resources
Wants
Needs
Scarcity
A group of similar consumers within a larger market is called:
Market opportunity analysis
Target market
Market segment
Push strategy
Which of the following is the movement of products and services from producer to consumer?
Channel of distribution
Target market
Promotion
Marketing mix
What is the first step in the marketing concept?
Develop and market products to consumers
Identify needs of customers
Operate profitably
Engage in bartering
This Function of Business is best described as the activities that support a business and keep it operating efficiently
Production
Accounting & Finance
Management
Operations
Using barcodes in a grocery store to oversee and manage inventory levels and help managers know what to order and keep in stock is an example of which Marketing Function?
Promotion
Finance
Market Information Management
Selling
Which is NOT one of the three basic economic questions?
What goods and services will be produced?
How will products be produced?
For whom will products be produced for?
What strategies will marketers focus on?
A clearly defined segment of the market to which a business wants to appeal is called:
Channel member
Market segment
Target market
Market opportunity analysis
Businesses used to provide many of the marketing functions during the distribution process are known as:
Consumers
Channel members
Producers
Distributors
Marketers are more concerned with (a) economics.
The study of economic behavior in the economy
Monopoly
Microeconomics
Macroeconomics
Monopolistic competition
_____ is emotions and behaviors that define an individual.
Lifestyle
Attitude
Personality
Self-Concept
A (a) is a culturally defined way to fulfill a need.
_________ is defined as the history, beliefs, and customs of a group and can be learned.
Culture
Ethnicity
Life-style
Attitude
_____ is the way a person lives as reflected by material goods, activities, and relationships.
Attitude
Personality
Lifestyle
Self-Concept
______ is an organized method of collecting, analyzing, storing, and retrieving information to improve marketing decisions.
Marketing Input System
Marketing Storage Method
Marketing Output Generator
Marketing Information System
____________ are non-essential purchases that satisfy consumer wants.
Capitalized purchases
Personalized purchases
Frivolous purchases
Discretionary purchases
______ are the ways a business's product may differ from that of its competitors.
Consumer Information
Points-of-difference
Marketing Mix
Points-of-parity
______ is marketing information that comes from outside of a business such as trade publications and government reports.
Business Information
Internal Information
Consumer Information
External Information
_____________ is important because it ensures that those we survey are representative of the entire population.
Survey
Primary Data
Random Sampling
Observation
__________ is a small number of people brought together to discuss identified elements of an issue or problem.
Focus Group
Test Markets
Experiments
Observation
Which segmentation category is based on people’s likes and interests:
Demographic
Psychographics
Geographic
Product usage
Which segmentation category is based on specific values they expect or require from the use of a product or service:
Demographic
Psychographics
Benefit expectations
Product usage
Which common base for positioning stresses the unique uses of a product:
Product feature
Use or application
Price & quality
Product user
Directs a company’s marketing mix to serve a large and heterogeneous group of consumers.
(a)
The portion of the total market potential that each company expects in relation to its competitors.
(a)
