1.02 MK-001 7 Functions of Marketing

What is Marketing?

• matches up producers with consumers

• is a company that is out of business

Selling is a marketing function

• True

• False

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

Name that function: Reminding customers about your products through advertising activities such as social media marketing, commercials and billboards.

• marketing information management

• channel management

• promotion

• product service management

What marketing function involves the transporting, storing, and handling of goods on their way from the manufacturer to the consumer?

• Selling

• channel management

• Financing

• Promotion

What marketing function involves determining a value to charge for goods and services?

• Promotion

• Selling

• Marketing Information Management

• Pricing

What marketing function involves constantly changing concepts and procedures necessary in designing, producing, maintaining, improving, and obtaining products or services to meet customer needs?

• Product/Service Management

• Marketing Information Management

• Selling

• Pricing

Communication used to inform, persuade, or remind people about a business’s products is what marketing function?

• Selling

• Promotion

• Product/Service Management

• Channel Management

Determining customer needs and wants and responding to those needs and wants through planned, personalized communication intended to influence purchase decisions and ensure satisfaction is usually done face-to-face between a salesperson and a customer. This describes what marketing function?

• Pricing

• Promotion

• Channel management

• Selling

The Chicago Bears saw an increase in demand for their copyrighted logo sports apparel this year due to a more successful year than in the past. As a result, the merchandising agent for the Bears ordered 100 times the amount of apparel ordered the year before. One of the decisions the agent had to make was how and where to communicate with fans to let them know what items were available and how to purchase them. What marketing function is the agent completing?

• Selling

• Promotion

• Financing

• Channel management