WorksheetsMarketing Unit One
Total questions: 63
Worksheet time: 41mins
Marketing is
(a)
The term used for the process of creating, communicating, and delivering value
(a)
Value is perceived benefit > cost
True
False
Value is perceived benefits < costs
True
False
Needs are
States of felt deprivation
States of want
States of felt interest
States of love
Wants is the form that need takes based on
personality
culture
buying situation
ethics
pleasure
Needs and wants are the same
True
False
The 4 Ps for marketing mix is:
Product
Price
Place
Promotion
Planning
Consumer is in the center of the marketing mix (the 4 Ps).
True
False
The term used for everything a firm can do to influence demand for a product
(a)
Which of these are pieces of the marketing plan?
Hint: Order does not matter
Executive Summary and Situation Analysis
Marketing Strategy, Financials, and Controls
Executive Summary, Strategy, Controls, and Situation Analysis
Executive Summary, Situation Analysis, Marketing Strategy, Financials, and Controls
List the 5 pieces of the marketing plan
(a)
A Marketing Strategy contains:
Goals
Target Market
Position
Marketing Mix
Reason
Situation Analysis contains:
Market Summary
SWOT Analysis
Competition Analysis
End of Day Summary
SWOT stands for
Strength, Weakness, Opportunities, and Threats
Misspelled SWAT
Strength, Weakness, Opportunities, and Tension
Strength, Winners, Opportunities, and Threats
Internal Considerations for SWOT are:
(a)
External Considerations for SWOT are:
(a)
Competition Analysis Contains direct and indirect competition
True
False
The market plan is a piece of the strategic planning
True
False
Goals must be
Achievable
Obtainable
Measurable
Specific
Realistic
Marketing Strategy is formed through
Goals
Target Market
Position
Marketing Mix (4P)
Planning
Combination of goods, services, and ideas is
Product
Price
Place
Promotion
How much the consumer pays for money is
Product
Price
Place
Promotion
How do we get the product to the customer is
Product
Price
Place
Promotion
How are we going to communicate the product is
Product
Price
Place
Promotion
One- Two Minute Pitch to share main points of the marketing plan is:
Executive Summary
Situation Analysis
Marketing Strategy
Financials
Controls
A systematic collection of data to identify market trends, conditions, and competitive forces is
Executive Summary
Situation Analysis
Marketing Strategy
Financials
Control
The set of actions taken to accomplish organizational objects is
Executive Summary
Situation Analysis
Marketing Strategy
Financials
Controls
Provides people who red the market plan with a bottom-line numerical estimate of the organization's profitability is
Executive Summary
Marketing Strategy
Financials
Control
Situation Analysis
Firms that put place to monitor performance and adjust the plan over time is
Controls
Executive Summary
Marketing Strategy
Financials
Situation Analysis
What's going on in the market place is
Market Summary
SWOT Analysis
Competition Analysis
An action-oriented document that guides the firm's market strategy is:
(a)
Era of Marketing where companies focused on efficient process and production. Lasted until the 1920s
Production Orientation
Sales Orientation
Customer Orientation
Era of Marketing where companies advertised and personally sold items to customers. Started in 1920s and ended after WWII (1945s)
Production Orientation
Sales Orientation
Customer Orientation
Era of marketing where companies focus on long term success by focusing on consumer's needs and wants. Started in 1945s to present.
Production Orientation
Sales Orientation
Customer Orientation
Products that performs the same function compete against each other is
Indirect Competition
Direct Competition
Products that provide alternate solutions to the same market is
Direct Competition
Indirect Competition
The process of thoughtfully defining a firm's objectives and developing a method of achieving that objective is
Strategic planning
Strategic Plan
Documentation of the firm's pans and developing methods of achieving those objectives are
Strategic Planning
Strategic Plan
A concise affirmation of the firm's long-term process
(a)
Mission Statement
(a)
Quality marketing objectives must be
Specific
Measurable
Realistic
Attainable
Simple
The process of dividing a large market into smaller groups is:
Market Segmentation
Target markets
Positioning
A group of customers toward which an organization directs its marketing efforts is
Market Segmentation
Target Market
Positioning
The activities a firm undertakes to create to create a certain perception of its products in the eyes of the market is
Market Segmentation
Target Market
Positioning
Firms that put in place to monitor performance and adjust the plan over time is called
(a)
Controls contains:
Implementation
Organizational Structure
Contingency Planning
Restructure Ideas
Specific actions that firm takes to accomplish marketing objectives is called
(a)
Factor that impactors consumer's ability and willingness to buy is
Economic Factor
Demographic Factor
Sociocultural Factor
Technological Factore
Factor that look at characteristics to identify and describe markets is called
Demographic Factor
Legal Environment
Sociocultural Environment
Economic Factor
Factor that looks at what shapes consumer's tastes and habits is called
Sociocultural
Environments
Political Environments
Demographic Factors
Legal Environment
Factors that could affect business when politicians or leaders say something about a product
Political Environment
Legal Environment
Factors that could affect business through the country's laws
Political Environment
Legal Environment
Factors where technology can affect or change the market rapidly
Political Environment
Technological Environment
Demographic Factor
Economic Factor
4 considerations for Economic Factor are
GDP
(Gross Domestic Product)
Income Distribution
Inflation
Consumer Confidence
Age
Demographic Factors contain
Age
Gender
Education
Ethnicity
Height
Market value of all officially recognized final goods and services produced within a country in a given period is
GDP
(Gross Domestic Product)
Income Distribution
Inflation
Consumer Confidence
The distribution of income over the U.S. is called:
Income distribution
Inflation
GDP (Gross Domestic Product)
Consumer Confidence
An increase in the general level of price of products in an economy over a period of time
Inflation
Income Distribution
GDP (Gross Domestic Product)
Consumer Confidence
Measures how optimistic consumers are about the overall state of the economy and their own personal finances
Consumer Confidence
Inflation
Income Distribution
GDP (Gross Domestic Product)
Outside Factors and Forces that affect a company's ability to meet its marketing goal is called
(a)
Monitoring development outside the firm's control is called
(a)
Six factors of the marketing environment are:
Economic Factor, Demographic Factor, Sociocultural Environment, Legal Environment, Political Environment, and Technological Environment
Economic Factor, Demographic Factor, Cultural Environment, Legal Environment, Political Environment, and Technological Environment
Economic Factor, Political Environment, Demographic Factor, Sociocultural Environment, Legal Environment, Political Environment, and Technological Environment
Economic Factor, Ethnic Factor, Sociocultural Environment, Legal Environment, Political Environment, and Technological Environment
