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Marketing Concept With Complete Solutions Latest Update
Marketing Concept With Complete Solutions Latest Update
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Marketing Concept With Complete Solutions LatestUpdate
Market - correct answers All people or organizations who share similar needs and
wants and are capable of buying your products. The larger group before it is
segmented.
Marketing - correct answers Consists of the actions a business takes to identify,
create, and maintain satisfying relationships with customers resulting in value for
the customer and profit for the business.
Marketing Concept - correct answers Focuses on satisfying the needs and wants of
customers, at the same time making a profit for the company.
Marketing Mix - correct answers Comprises four basic marketing strategies
collectively known as the four P's of marketing: product, price, place, and
promotion
Product - correct answers Decisions of what to sell or offer that will satisfy the
needs and wants of customers. Also includes features, brand name, packaging,
service, and warranty.
Promotion - correct answers Any form of communication used to inform,
persuade, or remind customers about your product or service.
, Pricing Function - correct answers Includes finding out what the demand is for
your product, as a product is only worth as much as someone will pay for it. Take
in to consideration these things: overhead costs, the worth or value, the
competition, and your profit.
Product/Service Management - correct answers Businesses manage their products
by changing them to fit current trends, increasing quality, evaluating market
conditions, and developing new products or services.
Distribution/Channel Management - correct answers Involves how to get the
product into the consumers hands. Transportation and shipping is a decision here.
Financing Function - correct answers Refers to how your business will obtain the
money it needs to start operations and stay operable and how a customer will pay
for the goods or services that you are selling.
Marketing-Information Management - correct answers Conducting surveys or
gathering information that would help you make decisions about where to locate a
retail outlet, when to release a new game, or other trends in the marketplace.
Selling Function - correct answers Consists of providing a way to give your
customer what he/she wants. Involves determining client needs and wants and
responding with planned communication.
Consumer Markets - correct answers Consumers who purchase goods and services
for personal use - all of us!
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