Marketing - Unit 1 Test

Marketing is _____________________ a growing base of satisfied customers.

attracting and retaining

Four components of marketing

creating, communicating, delivering, exchanging

When a business uses marketing efficiently they can identify customers __________________________ to help create products that will be successful.

needs and wants

The goal of marketing is to match a company's ____________________________ to the people who need and want them to ensure profitability.

products and services

Marketing is how businesses gets customers, it helps business find customers and sell their products and _______________________________.

service profitability

Marketing

the activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners and society

Marketing

the process of creating, promoting, and presenting a product or service to meet the wants and needs of customers

Exchanging

trading value for those offerings

Companies usually spend _________________________ on advertising in one year.

$500 billion

Communicating

Broadly, describing those offerings, as well as learning from customers.

Delivering

Getting those offerings to the customer in a way that optimizes value.

marketing includes _____________________ in all types of media. Some examples are on products, trucks, billboards, magazines, trains, airplaness, malls, online, etc.

advertisments

Creating

The process of collaborating with suppliers and customers to create offerings that have value.

Market

a group of customers who share common wants and needs

Marketing is the ____________________ of promoting and selling products or services, including market research and advertising.

action or business

Marketing is involved in more than ________________ businesses and those businesses use it as their primary business activity.

four million

Marketing is one of the most important __________________ in companies today.

functions

Marketing is everything a company does to __________________ and maintain relationships with them

gain customers

Most business have departments specifically for Marketing that hire Marketing Specialist whose main goal is to complete daily _________________________.

marketing activities

You are a consumer when you are shopping and purchase an item. When you do this you are a part of Marketing because you are involved in ______________________________, and activities.

marketing decisions

Why study marketing?

marketing is exciting, important, constantly evolving and profitable in the business world