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EBME
essential standard 2 - functions of business (marketing)
| Question | Answer |
|---|---|
| Market | The world of commercial activity where goods and services are bought and sold; includes customers and location a business wants to serve. |
| Marketing | Means by which products or services are developed, priced, distributed, and promoted to customers. |
| Marketing mix | Combination of the 4 P's—Product, Place, Price, Promotion. |
| Target market | A group of individuals or organizations with similar traits who may purchase a particular product. |
| Product | A good or service that can satisfy consumer needs. |
| Place | The location of the business; also includes business activities that involve physical distribution, such as transporting goods, handling the goods, storing the goods, and keeping track of the goods. |
| Price | The amount of money needed to purchase something. |
| Promotion | The act of informing or reminding consumers about a specific product or brand. |
| Fashion Merchandising | Involves all activities related to the development. |
| Travel and Tourism | The industry involved in providing services to support travel, mainly recreational or for leisure purposes. |
| Marketing Management | The management of a firm's marketing resources and activities. Marketing managers are often responsible for influencing the level, timing, and composition of customer demand in a manner that will achieve the company's objectives |
| Market Researcher | A person who accumulates and analyzes data in order to make a particular marketing decision. Market researchers determine what motivates people to buy specific products. |
| Salesperson | A person employed to represent a business and to sell its merchandise. |
| Sports and Entertainment Marketing | Involves determining the sports and entertainment interests of the consumer and planning a product or service that the spectator will buy. |
| Sales Manager | An individual who manages a group of sales representatives. |
| Telemarketer | A person who uses the telephone for promoting and selling products. |
| Buyer | One who makes bulk purchases on behalf of a retailer or wholesaler. |
| e-Marketing | e-Marketing, also referred to as Internet marketing or online marketing is the marketing of products or services using the Internet. |
| The Gap has created a new pop-up advertisement to introduce their new line of khakis. | Promotion |
| Apple Computer decided to create and sell the new iPhone. | Product |
| Janet owns two McDonald's restaurants and has decided to open another restaurant in a new mall. | Place |
| When the Nintendo Wii was introduced into the marketplace, the consumer cost for an X-Box was greatly reduced. | Pricing |
| Paco's Pizza decided to sell its pizza and pasta through a website as well as in their current restaurant. | Place |
| During the two weeks before Christmas, Target and Walmart both mailed flyers to advertise holiday sales. | Promotion |
| Ford Motor Company decided to update the Mustang since sales in the 1960s had been so good. | Product |
| At the end of the calendar year, the Honda dealer slashes the consumer cost of a new car to help reduce the amount of inventory. | Pricing |
| J. C. Penney runs newspaper advertisements every weekend to help increase sales. | Promotion |
| After many teens ran up large cell phone bills, most cell phone companies decided to offer pre-paid cell phone service plans. | Product |
Created by:
spencercte
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