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