| A | B |
|---|
| What is Marketing? | Process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives |
| True or False: The Sales Concept is… Product development w/o proving demand, want or need. Created regardless of whether anyone wants/needs it. This is a good product idea because we think it is, not b/c customers are asking for it. | True |
| What are the four foundations of Marketing? | Economics; Business, Management, Entrepreneurship: Communications skills, and Professional Development |
| What are the 7 functions of Marketing? | Distribution, Financing, MIM, Pricing, Product/Service Management, Promotion, & Selling |
| True or False: The Marketing Concept is… The economy must satisfy customers needs & wants in order to make a profit. | False |
| What are the 4 P's in Marketing Mix | Product, Promotion, Price, Place |
| SWOT Analysis is...? | Strengths, Weaknesses, Opportunities, and Threats |
| True or False: Product Planning is… Considers the direction in which the firm is heading and how marketing lines up with that direction | True |
| The two pricing issues are | Customer's perception of value and selling firm's objective |
| Two categories of products are...? | Goods and services |
| True or False: Goods are… Intangible items | False |
| Good are divided into 2 categories (select the answer choice that will fill in the blank) Durable vs Non durable and _______________________ | Consumer vs Industrial |
| Customer orientation is....? | Business focus on building relationships w/ customers to facilitate loyal, repeat customers for life. Do it their way. |
| True or False:Services are… Intangible items | True |
| Company Commitment is...? | All employees focused on the customers. |
| CRM stands for... | Customer Relationship Management |
| Product as part of of the Marketing Concept is when...? | business provides items that satisfy desires of consumers |
| True or False: Marketing Loyalty Programs… Rewards repeat customers | True |
| A benefit of Marketing is...? | Marketing bridges the gap between you & maker/seller of an item. |
| Who benefits from selling? | Everyone |
