Marketing Now 1.1

Question 1

Brand

Answer 1

A product /service that has a unique and recognizable identity that distinguishes itself from others.

Question 2

Insistence

Answer 2

The stage of brand loyalty where the buyer accepts no alternative and will search broadly for the required brand.

Question 3

Market

Answer 3

The group of consumers/organizations that is interested in the product.

Question 4

Economies of scale

Answer 4

Cost advantages a company gains with the increase in production.

Question 5

Distribution

Answer 5

The steps necessary to get the product to the customer.

Question 6

Financing

Answer 6

The process of providing funds for business activities, making purchases, or investing

Question 7

Marketing Information Management

Answer 7

Collecting and using information about the market to help a business make better decisions.

Question 8

Pricing

Answer 8

Establishing the value of a product and communicating that value to customers.

Question 9

Pricing

Answer 9

Establishing the value of a product and communicating that value to customers.

Question 10

Product Management

Answer 10

The process of designing and developing a new product intended to meet customers expectations.

Question 11

Promotion

Answer 11

The communication process that uses a variety of forms of promotion to encourage consumers to purchase the company products.

Question 12

Selling

Answer 12

The personalized process of helping to match a product or service to the needs or wants of a consumer.