Marketing Knowledge Flashcard

Front

Which of the following best defines marketing? Making products for consumers, The process of creating, communicating, delivering, and exchanging value for customers, Selling goods at the lowest possible price, Advertising products on television

Back

The process of creating, communicating, delivering, and exchanging value for customers

Front

A market segment based on lifestyle, attitudes, and values is called _____

Back

Psychographic

Front

A company that studies age, gender, and income of its customers is using which type of segmentation?

Back

Demographic

Front

Needs are different from wants because needs are _____

Back

Required for survival

Front

Which of the following is an example of primary market research? Reading an industry report, Conducting a customer survey, Searching government census data, Reviewing competitors’ websites

Back

Conducting a customer survey

Front

When a company sets a very low price to quickly attract customers, this is called _____.

Back

Penetration Pricing

Front

Which is an example of sales promotion? Options: TV commercial, Buy-one-get-one-free coupon, Billboard ad, Social media post

Back

Buy-one-get-one-free coupon

Front

The logo, name, and slogan of a product make up its _____?

Back

Brand identity

Front

A market made up of all potential customers who share common needs and wants is called a _____.

Back

Target market

Front

What does the “Place” element of the 5 Ps primarily deal with?

Back

Distribution channels