Test

Question 1

5 P’s of Marketing

Answer 1

1. Product
2. Place
3. Price
4. Promotion
5. People

Question 2

7 Functions of Marketing

Answer 2

1. Channel Management (Distribution)- How to get goods > customers.
2. Marketing Info Management (Research)- Location, Habits, Attitude.
3. Market Planning- Target Market = consumers.
4. Pricing- How much to charge
5. Product Service Management- Trends + how much customers are buying the item.
6. Promotion- Sales + Public Image.
7. Selling- Revenue

Question 3

Marketing

Answer 3

A changing process that uses media to encourage sales of a product/ service.

Question 4

Target market

Answer 4

A clearly indemnified portion of the market o which a company wants to appeal to.

Question 5

Demographics

Answer 5

Info about a customer that includes age, gender, and level of education.

Question 6

Psychographics

Answer 6

Info about a customer that includes attitudes, needs, and wants.

Question 7

Career

Answer 7

An occupation/ profession.

Question 8

Market Segmentation

Answer 8

Dividing an entire market up into different customer segments.

Question 9

Difference between ethical and legal

Answer 9

Legal- Processes/ Policies to abide by the law.

Ethical- Efforts to meet public + customer expectations.

Question 10

Difference between customer and consumer

Answer 10

Customer- Buys products

Consumer- Uses products

Question 11

5 Step Process of Marketing Research

Answer 11

1. Define the problem
2. Analyze the Situation
3. Develop a data collection procedure
4. Gather Information
5. Propose a solution