marketing 1 quizlet

Question 1

Market

Answer 1

collection of all current an potential customers and competitors seeking to satisfy the needs and wants of those customers

Question 2

Marketing Concept

Answer 2

it is the responsibility of the marketing function to understand and guide the business regarding the needs and capabilities of the market for its product

Question 3

Marketing Mix

Answer 3

output of the marketing process

Question 4

Marketing Process

Answer 4

Understanding a market

Positioning products

Distributing products

Pricing products

Promotion

Question 5

Four “P’s” of Marketing

Answer 5

Product

Place

Price

Promotion

Question 6

Marketing Research Process

Answer 6

Define the research question

Design the research so the question can be answered
Collect the needed data

Analyze the data

Make strategic decisions based on the analyzed data

Question 7

Marketing Research

Answer 7

process of collecting and analyzing data regarding current and potential customers and competitors

Question 11

Primary Marketing Data

Answer 11

created for the sole purpose of answering the marketing question such as a survey

Question 12

Secondary Marketing Data

Answer 12

Secondary data already exists; example is information from the census and the internet