Business 101 midterm TAMU
5 P's in marketing - ANS-People, place, product, promotion, price
Promotion mix - ANS-Traditional advertising, sales promotion, public relations, social
media, E-commerce, personal selling
Marketing goals - ANS-Creating awareness, getting consumers to try products,
providing information, keeping loyal customers, increasing the amount and frequency of
use, identifying target customers, teaching the customer
Personal selling - ANS-Mostly business to business, when a sales representative meets
with potential client about making a sell
B2B - ANS-Business to business
B2C - ANS-Business to customer
4 primary content themes of marketing - ANS-?
7 R's of marketing - ANS-Right:
Product
Quantity
Condition
Time
Place
Price
Customer
Whole sale VS. retail - ANS-Retail is the final seller to the final consumer, whole sale is
the steps before that (selling things in bulk to other retailers)
Factors of production in supply chain - ANS-Land, labor, capital, entrepreneurship
Procurement - ANS-Getting stuff (purchasing)
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