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Argylls ITB 13
Argylls ITB 13 Marketing
| Question | Answer |
|---|---|
| The process of getting goods and services to consumers. | Distribution |
| Getting the money necessary to run a business. | Financing |
| Process of creating, promoting and presenting a product to meet the needs and wants of the consumer. | Marketing |
| A group of consumers who share a common want and need. | Market |
| Deciding how much to charge for a product. | Price |
| Any effort to inform, persuade, or remind potential customers about a product or service. | Promotion |
| Providing customers with the goods or services they choose to buy. | Selling |
| Obtaining, developing, maintaining and improving a product in response to market opportunities. | Product/service managment |
| The pathway to direct products to the consumer. | Channel of Distribution |
| When goods and services are sold straight from the producer to the consumer. | Direct Distribution |
| Goods and services sold with one or more intermediary. | Indirect distribution |
| The point at which revenue is the as total costs and expenses. | Break-even point |
| Three examples of intermediaries. | Wholesalers, retailers and distributors |
| Businesses use promotion to make consumers this about a product. | Aware |
| Gathering and analyzing information about a market. | Market research |
| Facts about the population. | Demographics |
| Companies focus on the people who are most likely to purchase their product | Target marketing |
| The division of a market for a product into groups of customers. | Market segmentation |
| When workers work together to create new products and ideas. | Brainstorming |
| First step of product development | Generate Ideas |
| To offer a product or service in a limited market for a limited about of time. | Test Market |
| A model of the actual product. | Prototype |
| Four P's of Marketing | Product, Place, Price, Promotion |
| 5th P of Marketing | People |
| What "P" of marketing deals with location. | Place |
| Transporting goods via UPS and Fed Ex is what marketing function. | Distribution |
| Offering coupons is an example of what "P" of marketing | Promotion |
| The last step of product development | Evaluate customer acceptance |
| Businesses may ask potential customers to complete this to find out information. | Survey |
Created by:
rholloway
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