What does the place element of marketing involve?

Distributing the product to customers at the right place and right time

Obtaining, developing, maintaining, and improving a product or service mix

Setting the value and costs of goods and services

Communicating information to customers about the product

What is the product in marketing?

The goods, services, ideas, events, people, etc. being offered

The amount of money that is exchanged for the product

What does the marketing function financing involve?

Budgeting for all market activities and assisting customers in paying for products

The process of establishing and communicating the value and costs of goods and services

Determining client wants and needs through personalized communication

Managing transportation, storage, and inventory tracking systems

What is the function of marketing information management?

Gathering, storing, analyzing, and evaluating data for decision-making

Setting the value and costs of goods and services

Distributing products to customers at the right place and right time

Obtaining, developing, maintaining, and improving products or services

What is the role of product & service management in marketing?

Obtaining, developing, maintaining, and improving products or services

Communicating information to customers about the products

Determining client wants and needs through personalized communication

Gathering, storing, and analyzing market research data

What are some advantages of mass marketing?

Lower cost, one advertising campaign needed, standardized products, defined message

Higher cost, customized products, undefined message

Higher cost, multiple advertising campaigns needed, customized products, defined message

Lower cost, multiple advertising campaigns needed, standardized products, undefined message

What are some disadvantages of mass marketing?

Doesn't take consumer differences and preferences into account, leaves the brand vulnerable, can easily be challenged

Takes consumer differences and preferences into account, strengthens the brand, can easily be challenged

Doesn't take consumer differences and preferences into account, strengthens the brand, can easily be challenged

Takes consumer differences and preferences into account, leaves the brand vulnerable, can easily be challenged

What is market segmentation?

The process of breaking down the total market into smaller segments and classifying customers

The process of identifying the most effective marketing tactics

The process of creating hyper-targeted ads

The process of attracting and converting quality customer leads

What are some advantages of market segmentation?

Lower marketing costs, standardized marketing messages, broader target audience

Higher marketing costs, customized marketing messages, narrower target audience

Higher marketing costs, standardized marketing messages, broader target audience

Lower marketing costs, customized marketing messages, narrower target audience

What is the definition of a consumer market?

Consists of consumers who purchase goods or services for personal use

Consists of businesses who purchase for use in the operation of their business

Consists of wholesalers who purchase products for resale

Consists of manufacturers who purchase raw materials

What are the common bases of market segmentation?

Demographic, geographic, psychographic, and behavioral

Psychographic, demographic, attendance, and geographic

Behavioral, income, psychographic, and geographic

Geographic, behavioral, climate and demographic

What are the four components of SWOT analysis?

Strengths, weaknesses, opportunities, and threats

Successes, weaknesses, organization, and trends

Strategies, weaknesses, opportunities, and timeframes

Strengths, weaknesses, objectives, and targets

Any tangible object a customer can purchase to satisfy wants and needs

Any intangible activity exchanged directly from producer to consumer

Any item that is consumed at the time of production

Any intangible object a customer can purchase to satisfy wants and needs

Any intangible activity exchanged directly from producer to consumer

Any tangible object a customer can purchase to satisfy wants and needs

Any item that is consumed at the time of production

Any intangible object a customer can purchase to satisfy wants and needs

What are the four phases of the product life cycle?

Introduction, growth, maturity, and decline

Development, growth, maturity, and decline

Introduction, establishment, maturity, and decline

Development, establishment, stabilization, and decline

A name, term, design, or symbol that identifies a business, product, or service.

A word that represents a product or service.

A combination of elements that identifies a business.

A unique symbol that sets a business apart from competitors.

The image of a brand in customers' minds

The visual representation of a brand

The combination of elements that make a brand stand out

What is a brand name?

A word that represents a product or service

A group of letters that identify a business

A combination of elements that make a brand unique

What is a brand/trade character?

A specific brand mark that has human characteristics

A symbol that represents a brand

A character from a brand's advertising campaign

A characteristic that makes a brand unique

What is brand licensing?

A legal authorization to use a brand for a fee

A legal authorization to use a brand for free

A marketing strategy that combines different brands

A branding strategy that promotes new products

What does AIDA stand for in the context of promotional messages?

Attention, Interest, Desire, Action

Awareness, Interest, Decision, Action

Analysis, Investigation, Decision, Action

Attention, Inquiry, Direction, Action

Which of the following is NOT one of the goals of selling?

Tell the customers whatever they need to hear so they will buy a product

Help customers make satisfying purchasing decisions

Create ongoing relationships/loyal customers for a business

Help generate profit for a business

Which of the following examples represents a business to business (B2B) selling transaction?

A wearable fitness device company representative sets a sales meeting with a hospital manager who wishes to invest in devices for his/her staff

A retail salesperson helps a high school senior pick out her prom dress

A car salesman helps a mom pick out the perfect SUV for her family

An employee at the Apple store helps you pick out a new iphone

Which of the following are advantages of personal selling?

All of the listed choices are goals of selling

Effective relationship building

Salesperson can easily address questions and concerns

Choose the option that lists the steps of selling in the correct order

Approach, determining customer needs, presenting the product, answering objections, closing the sale, suggestion selling, and following up/relationship marketing

Approach, presenting the product, determining customer needs, answering objections, closing the sale, suggestion selling, and following up/relationship marketing

Approach, suggestion selling, presenting the product, determining customer needs, closing the sale, answering objections, and following up/relationship marketing

Approach, determining customer needs, answering objections, closing the sale, presenting the product, suggestion selling, and following up/relationship marketing

SP 24 - MP Final Review

Authored by Whitney Van Atta

Business

10th Grade

Used 1+ times

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44 questions

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MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does a resume tell prospective employers?

Your hobbies and interests

Your academic achievements

Your work experience

Your favorite color

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does the SMART acronym stand for in SMART Goals?

Simple, Measurable, Attainable, Realistic, Timely

Specific, Measurable, Attainable, Relevant, Time-Based

Strategic, Measurable, Accurate, Reliable, Thorough

Significant, Measurable, Accessible, Resourceful, Thorough

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does it mean to demonstrate a positive and optimistic outlook?

Being critical and judgmental

Having a negative attitude

Being motivated and eager

Being uninterested and lazy

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What are the steps to follow when writing an email?

Use fancy formatting and fonts

Start with the least important information

Avoid checking for spelling and grammar errors

Identify the audience, use professional language, organize with important information first, check for errors

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What are ethics?

Guidelines for handling and approaching problems

Personal motivations and interests

Moral principles that determine behavior

Academic achievements and qualifications

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following can be marketed?

Products only

Services only

Ideas only

All of these

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does the price element of marketing refer to?

The amount of money that is exchanged for the good/service

The location where the product is sold

The promotional activities carried out for the product

The process of distributing the product to customers

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SP 24 - MP Final Review

What does a resume tell prospective employers?

What does the SMART acronym stand for in SMART Goals?

What does it mean to demonstrate a positive and optimistic outlook?

What are the steps to follow when writing an email?

What are ethics?

Which of the following can be marketed?

What does the price element of marketing refer to?

What does the place element of marketing involve?

Which element of the marketing mix focuses on obtaining, developing, maintaining, and improving products or services?

Which of the following is NOT a part of the marketing mix?

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