chapter 1

Question 1

brand promise

Answer 1

a statement assuring consumers of a product or service’s value

Question 2

brand strategy

Answer 2

a plan for how a business should appear to customers and competitors

Question 3

market research

Answer 3

research into consumer preferences

Question 4

market share

Answer 4

the percentage of the market for a product or service that a company supplies

Question 5

marketing concept

Answer 5

a method of selling that involves analyzing customer wants and needs and aiming to fulfill them better than competitors

Question 6

marketing function

Answer 6

one of the seven roles marketing has within a business, including distribution , financing, marketing, information management, pricing, selling, product/service management, and promotion

Question 7

marketing mix

Answer 7

factors of product, promotion, place, and price used to get target customers to purchase products

Question 8

social media

Answer 8

form of digital communication through which users create online communities to share content and information

Question 9

SMM

Answer 9

harnesses digital communication to execute the foundation of marketing, which is the process or technique of promoting, selling, and distributing a product

Question 10

SMM plan

Answer 10

details the steps required for creating and maintaining an online business presence through social media

Question 11

target market

Answer 11

a specific group of people a business focuses on selling their product to