MKT-001- Marketing.... what is it?

Which of the following is a service?

Hulu streaming service

What role does marketing play in a private enterprise system?

It connects customers with businesses that can meet their wants and needs.

What is the definition of marketing?

The enterprise and pursuit of ideation, creation, communication, and delivery of profitable products and services to targeted customers for their benefit and society's benefit.

Which factor would most likely lead a company to invest a large amount of money in a Super Bowl ad for its product or service?

Their product or service will reach a wide audience.

What is the marketing concept?

To analyze and identify the needs and wants of customers, and build strategies to satisfy those needs and wants, better and more effectively than its competitors

Read the advertisement from De Beers jewelry store. "A diamond is forever." What type of product is marketed in this ad?

a good.

What is an example of a nondurable good?

a granola bar

Complete the sentence. Pest control is an example of a:

a service

What is an example of a durable good?

a truck

Complete the statement. Businesses that embrace the marketing concept start by

analyzing and identifying the needs and wants of customers.

Complete the sentence. The Olympics is a marketed

event.

To promote a product is to:

inform potential customers that a product or service exists, and the results they should expect from using it

How does marketing benefit society?

job creation, increased tax revenue, and more choices for buyers.

What is one result of competition?

more buying options for customers

Which words best complete the sentence? Marketing is a _________________ discipline of _________________ functions.

multifaceted, interrelated