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Game #1

Review of Units 1.0 & 2.0

QuestionAnswer
What is Marketing? Marketing includes all the activities required to bring products/services from the manufacturer to the consumer.
What are the 4 P's of Marketing? Product, Promotion, Price, & Place
List the 3 Roles of Marketing: 1. To create awareness of products/services 2. To have access to products/services 3. To have multiple channels (places) to purchase
What is a Customer? A customer is someone who buys a product/service, but may not consume it.
What is a Consumer? A consumer is someone who buys and uses a product/service.
Define a Marketing Plan A marketing plan is used by a business to guide its marketing process to a desired conclusion.
What is a Strategy? A strategy is a plan of action for achieving your goals and objectives.
What are Tactics? Tactics are specific actions used to carry out strategies.
Qualitative vs. Quantitative Data? Qualitative Data: Relies on subjective data reports opinions rather than historical data. Quantitative Data: Uses statistical computations such as trend extensions based on past data, computer simulations, and economic models.
What is Customer Service? Customer service is a process rather than a function; a relationship rather than a department. It enhances/facilitates customer's use of goods and services.
List the benefits of Customer Service: The benefits are that it builds profit through partnerships with current customers (loyalty). Customer service also generates new customers.
What are Standards? Standards are statements that specify a product’s size, contents, and/or quality; used as a basis for comparing or judging goods or services.
What are Grades? Grades are ratings assigned to products that tell to what extent standards apply.
Who sets Grades and Standards? Government Agencies
What is a Warranty? A warranty is a defined promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected.
What is a Guarantee? Defined as a promise made by the seller to the consumer that the seller will refund the consumer’s purchase price if the product doesn’t perform as expected.
Define a Product Recall: A request to return to the maker a batch or an entire production run of a product, usually due to the discovery of safety issues.
List the Types of Difficult Customers: 1. Disagreeable 2. Domineering/Superior 3. Suspicious 4. Slow/Methodical 5. Dishonest
List the 5 benefits of Difficult Customers? The five benefits are: Complaints identify faulty products Complaints challenge the status quo Complaints test internal systems and processes Complaints are friends Complaints provide the opportunity for service recovery
Customer Service is based off of what 4 things? 1. Past experience 2. Word-of-mouth 3. Advertising 4. Personal selling
Created by: tyler.lees07
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