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WorksheetsMarketing & Business Basics Review
Total questions: 49
Worksheet time: 34mins
What is one or more specific groups of potential customers called?
Target Market
Market Group
Industry
Producers
What is the Marketing Mix?
A mixed group of different markets
One or more specific groups of potential customers
Interrelated activities that must work together to get goods and services from producers to consumers
Price, Product, Promotion and Place
Whats another name for the Marketing Mix?
(a)
The goal of marketing is to?
reduce prices
meet the customers wants and needs
create employee empowerments
instigate competition
According to the American Marketing Association, marketing is defined as:
The process of promoting and selling products or services
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
The set of activities involved in identifying and anticipating customer needs
The process of understanding what people eat and buy, and then satisfying those wants and needs through effective management and strategies
A nail salon provides their customers with...
A service
A good
A group of customers a business seeks to attract who have specific, similar needs is referred to as a(n)...
Market research
Marketing mix
Target market
Marketing concept
Satisfying the needs of the customer while generating a profit is called the...
Marketing mix
Functions of marketing
Target market
Marketing concept
Crumbl's cookies are an example of which marketing mix component?
Place
Price
Product
Promotion
A banner announcing Rack Room Shoes' grand opening is what area of the marketing mix...
Product
Place
Promotion
Pricing
Neighborly Books opened their bookstore in Downtown Maryville to gain foot traffic. This component of the marketing mix is...
Product
Place
Price
Promotion
The most successful businesses consider customers' needs as they produce and market their products and services.
True
False
A process in marketing involving a provider, a customer, a product, and a transaction is known as the:
advertising process
value chain
exchange process
1. The 4P’s determine a product’s ______________.
Mass Marketing
Positioning
Marketing Concept
Marketing Mix.
Which of the following best describes the idea of the Marketing Concept?
Customers are not a priority
Business should strive to satisfy a customer’s needs and wants while generating a profit for the business.
Every measure must be taken to please the employees.
None of the above
The customer is the person who _________ and the consumer is the person who ___________.
Uses the product; Purchases the product
Views the product; Listens to the product
Purchases the product; Uses the product
Does not purchase the product; Does not use the product
Tangible items that have monetary value and satisfy consumer’s needs and wants are called _______?
Goods
Ideas
Markets
Services
Which of the following is NOT an example of a service?
Housekeeping Company
Miniature Golf Business
Jewelry
Income Tax Preparers
Obtaining, budgeting, and managing the resources needed to operate a business and develop its products is an example of the ______ function?
Pricing
Distribution
Financial Analysis
Promotion
A retail store employee puts a pair of shoes on a customer and asks the customer if the shoe fits right.
Selling
Distribution
Promotion
Pricing
A retailer decides to mark down the store's selection of swimsuits in August.
Pricing
Promotion
Distribution
Product Service Management
Name that function: Planning ways to cover cost and reach the desired profit margin.
Pricing
Promotion
Selling
Financing
Marketing Information Management
Name that function: Gathering information about what consumers want in order to make informed business decisions.
Financing
Pricing
Distribution
Marketing Information Management
Product Service Management
Name that function: Designing, producing, maintaining, and improving products or services to meet changing needs and wants.
Marketing Information Management
Financing
Pricing
Product/Service Management
Distribution
Name that function: Moving products from the producer to the consumer.
marketing information management
financing
pricing
product service management
distribution
Name that function: Reminding customers about your products through advertising activities such as social media marketing, commercials and billboards.
marketing information management
financing
promotion
product service management
distribution
Name that function: Collecting surveys from college campuses on fashion likes and dislikes.
selling
promotion
product service management
distribution
marketing information management
Name that function: Ending amount charged with .99 to give the illusion of savings while still maintaining profit margins.
Marketing information management
Financing
Pricing
Promotion
Product service management
Name that function: Improving the quality of your shoes based on customer feedback to improve sales and reputation.
Pricing
Promotion
Marketing information management
Product service management
A ____________________ is meeting a need with words or actions instead of tangible products.
product
service
logo
customer
Set of activities, tactics, actions, and strategies used by businesses to promote their brand, products, and services in the market.
Marketing Mix
Place
Process
People
If a marketer changes one marketing mix element, s/he should expect that the __________ will also change.
strategy
product quality
goal
other elements
Which element of marketing refers to the various types of communication that marketers use to inform, persuade, or remind customers of their products?
Promotion
Place
Price
Product
Diana is deciding how much of a product to order and which firms to involve in the process. She is working on the __________ element of the marketing mix.
promotion
product
price
place
What does the 'Price' element of the Marketing Mix refer to?
The product or service that the company provides
What the consumers pays for in exchange for the product or service
The means of communication used to create awareness and interest
The location of the customers or potential customers
What should the 'Promotion' element of the Marketing Mix include?
The product or service that the company provides
The amount consumers pay for a product or service
The means of communication used to create awareness and interest
The location of the customers or potential customers
Which of the 4P's does this represent: Advertisements in the newspaper
Product
Price
Place
Promotion
Which of the 4P's does this represent: Air Jordans
Product
Price
Place
Promotion
Which of the 4P's does this represent: Discounts
Product
Price
Place
Promotion
Which of the 4P's does this represent: Transportation
Product
Price
Place
Promotion
How many marketing functions are there?
6
7
8
9
This marketing function is all about data, research and analysis
Selling
Promotion
Marketing Planning
Marketing Information Management (MIM)
Pricing
"Click It or Ticket” was a great campaign to enforce the law about wearing seatbelts and the importance of seatbelts.
Event Marketing
Marketing of Ideas
Marketing of People
Marketing
Services are (a) (meaning you can’t physically touch them).
Laptops are tangible items that can be bought and used for various tasks. This means it is
A service
Intangible
A good
Your mom
Joe receives a new hat for his birthday from his friend Nate. In this example Nate is a:
consumer
marketer
customer
What does a producer-oriented approach in marketing mean
Studying what people like before making products.
Making new products based on what people say they want.
Making products based on what the company is good at.
Making products based on what is the most affordable
What does a consumer-oriented approach in marketing mean?
Making products without thinking about what people want
Creating products that people need and want.
Focusing only on making products cheaply
Using the company's existing skills to make products.
