Business ch 10
Services
A business that carries out activities that are consumed by consumers
Marketing strategy
A company that indicates how it'll use marketing to achieve its goals
Merchandising
A set of promotional activities designed to obtain sales in retail setting
Target market
A specific group of customers that have similar wants and needs
Promotion
Any form of communication used to inform persuade or remind
Advertising
Any paid form of communicating through mass media
A unique identification for a company's products
Brand name
Personal selling
Direct individualized communication with prospective customers to assist their needs
Does a focus group involve observing the actions of customers
False
Does personal selling always involve face to face contact with the consumer
False
Is it easier to control the quality of a service than the quality of a product
False
Is marketing non paid promotional communication presented by the media
False
It's a products route from the producer to the consumer it's stream of revenue
False
Retailer
Final business organization in an indirect channel of distribution for consumer products
Marketing research
Finding solutions to problems through carefully designed studies involving customers
What are emotional buying motives
Life insurance Baby monitor Birthday cake Hawaiian vacation
An amount added to the cost of a product to establish the selling price
Mark up
Price
Money customer must pay off for a product or service
What are rational buying motives
New fridge New hybrid car Mortgage lender
Setting and communicating the value of products and services
Pricing
Marketing mix (The blending of 4 marketing elements)
Products Distribution Price Promotion
Communication used to inform persuade or remind
Promotion
An activity consumed at the same time it is produced
Service
A specific group of consumers with similar wants and needs
Target market
Marketing
The action of business of promoting and selling products or services
Distribution
The locations and methods used to make a product or service available to the target market
Buying motives
The reasons consumers decide what products and services to purchase
Channel of distribution
The route a product follows and the business involved in moving a product from the producer to the costumer
Costumer decision making
The specific sequence of step costumers follow to make a purchase
Does convenience affect the price consumers are willing to pay for the product
True
Is marketing mix the blending of product. distribution, price and promotion
True
Is mass production less expensive than personalized promotion
True
