question

Marketing is basically a form of selling.

answer

FALSE

question

The marketing concept refers to a company-wide customer orientation with the objective of achieving long-term success.

answer

TRUE

question

Personal factors that influence consumer behavior include individual needs and motives, perceptions, attitudes, learned experiences, and self-concept.

answer

TRUE

question

Government statistics are examples of primary data.

answer

FALSE

question

Attitudes and opinions are psychographic characteristics.

answer

TRUE

question

A product is a bundle of physical, service, and symbolic attributes.

answer

TRUE

question

Services are always classified as business products.

answer

FALSE

question

Different products will stay in each stage of the life-cycle for different amounts of time.

answer

TRUE

question

Trademark protection extends to pictorial designs and slogans.

answer

TRUE

question

Consumers are examples of marketing intermediaries.

answer

FALSE

question

An integrated marketing communications strategy focuses on customer needs to create unified promotional messages.

answer

FALSE

question

Advertising is a global activity.

answer

TRUE

question

Advertising is a form of paid personal communication.

answer

FALSE

question

Creative selling involves a persuasive type of promotional presentation.

answer

TRUE

question

Coupons offer cash back to consumers who mail in required proofs of purchase.

answer

FALSE

question

Know the definition of marketing

answer

the action or business of promoting and selling products or services, including market research and advertising.

question

Know the different types of utility.

answer

The ability of a good or service to satisfy the wants and needs of customers is called utility. Marketing creates time utility (making a product available when customers want to purchase it), place utility (having the product available where customers want to purchase it), and ownership utility (the orderly transfer of goods and services from the seller to the buyer). TIME Ownership PLACE

question

Know the definition of consumer behavior.

answer

refers to the actions of consumers directly involved in obtaining, consuming, and disposing of products, and the decision processes that precede and follow these actions.

question

Know the different type of data

answer

Internal and External

question

Know the difference in internal and external sources

answer

Firms use internal and external methods to recruit qualified employees. For needs that the company cannot meet with existing employees, it may find candidates by encouraging employee referrals, advertising, accepting resumes at its Web site, and using job search Web sites. In selecting qualified candidates, human resources managers must follow legal requirements designed to promote equal employment opportunity. Employment tests, such as cognitive ability tests, are often used to assess job candidates' capabilities and assist companies to hire more qualified workers.

question

Know the steps to developing a marketing strategy

answer

1)discover unmet customer needs 2) research potential market 3) producing a good or service capable of satisfying the target customers 4)promoting pricing and distributing that good or service

question

Know the difference between a business or consumer product

answer

Consumer products usually require adaptation since they tend to be culture dependent.

question

Know what products and industries could use standardization.

answer

Goods and services are classified as either consumer or business depending on the purchaser of the particular item. Consumer products are those purchased by ultimate consumers for their own use. They can be convenience products, shopping products, or specialty products. Business products are those for use either directly or indirectly in the production of other goods and services for resale. They can be classified as installations, accessory equipment, component parts and materials, raw materials, and supplies. Services can be classified as either consumer or business. Consumer products are usually classified as convenience products, shopping products, and specialty products

question

Know the cost of attracting a new customer compared to keeping an old one.

answer

One of the ways in which businesses are using relationships to reach corporate goals is partnering with customers. Effective long-term relationships with customers can be a vital strategic weapon for a firm. Attracting new customers costs much more than keeping an existing one. Long-term customers usually buy more, require less service, refer other customers, and provide valuable feedback. Partnering with suppliers often means lower inventory costs, better prices, and preferential treatment. Overall, it can lower production costs. By partnering with other businesses, a company can gain access to important new technologies and other innovations in a more cost-effective manner.

question

Know the four areas of marketing.

answer

geographic demographic(age,gender income, education, family size, life cycle) pshycographic(lifesytles, attitudes, opinions, behavior, patters, values) product related(comfort saftey, luxury, economy, convience durability, brand loyalty,

question

Know the definition of the marketing concept.

answer

The marketing concept refers to a company-wide customer orientation with the objective of achieving long-term success.

question

Know what makes up nonprofit marketing

answer

Common Sense

question

Know what consumer products are.

answer

convenience goods, shopping goods, and specialty products.

question

Know the definition of a product

answer

A product is a bundle of physical, service, and symbolic attributes designed to satisfy consumer wants. The marketing conception of a product includes the brand, product image, warranty, service attributes, packaging, and labeling, as well as the physical or functional characteristics of the good or service.

question

Know the different stages of the product life cycle.

answer

The product life cycle refers to the four stages a product goes through from the time it first enters the market until it is no longer a viable product. These stages are introduction, growth, maturity, and decline. The opportunities and challenges facing marketers differ depending on the stage of the cycle. For example, in the introductory stage the firm must provide basic product information to consumers who are unfamiliar with the new product. However, in the maturity stage, the product faces increased competition from similar products offered by other firms, so the firm must concentrate on building brand loyalty. Thus, knowledge of the cycle provides marketing planners with important insights that allow them to anticipate developments and develop strategies.

question

Know what makes a brad effective.

answer

pronounce recognize remember

question

Know what trademark means and what it does.

answer

is a brand name that has been given legal protection.

question

Know the two major distribution channels.

answer

Direct and Indirect A direct distribution channel is one that moves goods and services directly from the producer to the ultimate user. Consumers and businesses that purchase computers directly from manufacturers, such as Dell computers, are using a direct distribution channel. An indirect distribution channel is one where the goods and services move first to an intermediary, such as a wholesaler or retailer, before moving to the ultimate user. For example, Amazon.com would be the intermediary between a consumer and a publishing house.

question

Know the most critical step in the sales process

answer

1) potential customer

question

Know why products fail.

answer

consumer dosent want, bad marketing, COMMON SENSE

question

Know the purpose of a brand

answer

COMMON SENSE

question

Know the forms of integrated marketing communications.

answer

During _____, marketers coordinate all promotional activities to execute a unified, customer-focused promotional strategy direct mail sales promotions public relations

question

Know the definition of the media mix.

answer

Media mix refers to the various advertising channels through which a company communicates with its audience in order to fulfill a campaign as outlined in the media plan. Generally, a media mix includes radio, TV, print and online advertising endeavors. The media mix is the total amount of advertising that an agency, advertising company or media buyer has budgeted for a specific advertising strategy and media plan.

question

Know what creative selling is and what industries use it.

answer

...

question

Know what prospecting a customer means.

answer

...

question

Know what it is called when a salesperson uses literature and unusual visual aids

answer

...

question

Know how much businesses spend on promotion dollars or premiums.

answer

...

question

Know what nonperson selling is and be able to recognize examples.

answer

...

question

Know what the objectives of promotion are

answer

...

question

Know what the marketing equation is.

answer

..

question

Know how consumer markets are segmented.

answer

Consumer markets are segmented in the following ways: geographically (based on location), demographically (based on gender, income, age, occupation, etc.), psychographically (based on lifestyle, attitudes, values, and self-image), and product-related (based on relationships to the good or service).

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