Intro to Biz - Module 7 Review

The _____ is based on the five P's.

marketing mix

The _____ is a series of marketing entities through which goods and services pass on their way from producers to end-users

distribution channel

Which of the following is an example of an advertising medium?

all of the above

Topik is a product that is sprayed on thinning hair and makes the hair appear thicker. The manufacturer considers its potential market to be blue-collar workers who earn less than $30,000 per year, are divorced, and who like to think of themselves as weekend athletes. The manufacturer of Topik considers this group to be its:

target market

How do distribution channels improve product distribution?

Distribution channels reduce the number of transactions needed to get the product from the manufacturer to the consumer

According to the _____, a firm should first identify consumer needs and then produce the goods and services that will satisfy them.

marketing concept

In selling telephone service, AT&T tries to gather as much information as possible about the consumer's income, buying habits, service preferences, and occupation. AT&T is utilizing:

marketing research

People with common activities, interests, and opinions are grouped together into a given lifestyle. A company that segments its market according to these different lifestyles is using _____ segmentation.

psychographic

_____ is the efficient management of the acquisition of raw materials to the factory and the movement of products from the producer to industrial users and consumers.

distribution

_____ is the act of informing, persuading, and reminding the target market about a product.

promotion