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