YEAR 12 COMMERCE SECOND TERM UNIFIED TEST

What is marketing?

• The process of producing goods and services

• The process of promoting goods and services

• The process of distributing goods and services

• The process of creating, communicating, and delivering value to customer

What is the primary goal of marketing?

• To maximize profits

• To minimize costs

• To create customer satisfaction

• To increase market share

What is the marketing mix?

• Product, price, promotion, and place

• Product, price, promotion, and people

• Product, price, promotion, and process

• Product, price, promotion, and physical evidence

What is target marketing?

• Identifying a specific group of customers to serve

• Identifying a specific product to produce

• Identifying a specific price to charge

• Identifying a specific promotion to use

What is market segmentation?

• Dividing a market into smaller groups based on similar characteristics

• Dividing a market into smaller groups based on different characteristics

• Combining different markets into one

• Ignoring market differences

What is a marketing strategy?

• A plan for achieving marketing objectives

• A plan for producing goods and services

• A plan for promoting goods and services

• A plan for distributing goods and services

What is a marketing objective?

• A specific goal that a company wants to achieve through its marketing efforts

• A general goal that a company wants to achieve through its marketing efforts

• A plan for achieving marketing goals

• A strategy for achieving marketing goals

What is the difference between a product and a service?

• A product is tangible, while a service is intangible

• A product is intangible, while a service is tangible

• A product is consumable, while a service is non-consumable

• A product is non-consumable, while a service is consumable

What is branding?

• The process of creating a unique name and image for a product or service

• The process of creating a generic name and image for a product or service

• The process of creating a unique name and image for a company

• The process of creating a generic name and image for a company

What is customer relationship management (CRM)?

• A strategy for managing customer relationships

• A tactic for managing customer relationships

• A technology for managing customer relationships

• A philosophy for managing customer relationships