Marketing Principles Midterm Review

The marketing mix is..

• The combination of the four basic marketing strategies

• The best way to run a business

• Target Market

• Market Segmentation

What are the four basic p's of the marketing mix?

• Price, Position, Place, Promotion

• Population, Price, Product, Promotion

• Price, Product, Place, Promotion

• People, Production, Place, Promotion

Using factors such as age, gender, and race is using what type of market segmentation?

• Geographics

• Demographics

• Psychographics

• Behavorial

If you market your product in America and in Europe this is what type of market segmentation

• Demographic

• Behavioral

• Psychographic

• Geographic

You are marketing a new piece of fitness equipment and decide to send out flyers to member of a local gym. This is an example of what type of market segmentation?

• Behavioral

• Psychographic

• Geographic

• Demographic

You decide to use your target market's attitudes and personalities as a form of market segmentation. This is an example of...

• Psychographics

• Geographic

• Demographic

• Behavioral

You live in a country where jobs are assigned and the government has total control of the economy. This is ....

• Socialism

• Communism

• Capitalism

You read about a civilization that existed many years ago with no organized government and whose economy was based on bartering for goods. This is an example of what type of economy?

• Command

• Market

• Traditional

Components of capitalism include..

• Market economy with limited government intervention

• Market economy with extensive government intervention

• Command economy with limited government intervention

• Command economy with extensive government intervention

Product is

• the latest invention

• the goods and services a business provides to sell to the market

• the amount of money a business makes

• the amount of money a business spends