Business Exam - Marketing Quiz #3

What is the term for a group of people who are most likely to buy a product?

Target market

Which pricing method sets the price of the product on what the customer is willing to pay?

Demand-oriented pricing

The business-to-business (B2B) market includes people who buy products to:

Resell them, Use them in day-to-day operations, Make other products.

Which of these items is made up of elements known as the "4 Ps"?

Marketing mix

Which pricing objective focuses on generating the highest possible profits?

Maximize profits

Selling is not included in what?

Physical Distribution

In terms of the marketing mix, distribution is represented by which "P?"

Place

What type of utility involves changing a raw material or assembling parts to make a product?

Form

What is the term for the path that the product follows from the producer to the customer?

Channel of distribution

What is the focus on Relationship Era marketing?

Long-term connection to customer