Chapter 10 Study Guide: Marketing – Flashcards
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The consumer decision-making process is different for final consumers than for business consumers. (T/F)
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False
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Which marketing function involves communicating directly with potential customers to determine their needs?
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selling
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What are the four elements of a marketing mix?
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product, distribution, price, and promotion
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This type of marketing research study gathers information from people using a carefully planned set of questions.
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survey
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____________________ are the final business organization in an indirect channel of distribution for consumer products.
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Retailers
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__________ is the difference between the selling price and the product costs.
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Gross margin
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Businesses that take part in a channel of distribution are known as
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channel members.
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In a communication path, the person or organization that has information to communicate to another person or organization is called the
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sender
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The most known and used type of mass promotion is
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advertising
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Contests, games, and product give-aways are all examples of
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sales promotion.
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A company's plan that identifies how it will use marketing to achieve its goal is called a ____________________.
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marketing strategy
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A marketing ____________________ considers the needs of customers when developing a marketing mix.
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orientation
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Finding solutions to problems through carefully designed studies involving consumers is called marketing ____________________.
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research
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A(n) ____________________ is everything a business offers to satisfy a customer's needs.
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product
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The money a customer must pay for a product or service is called ____________________.
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price
