Intro to Marketing

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Which of the following best describes the purpose of marketing? Marketing exists to…

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This “P” involves the public relations, sales, advertising, etc.

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This “P” involves refers to how much you charge for your product or service.

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This “P” involves the quality, features, options, services, warranties, and brand name in addition to the thing actually being purchased.

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This “P” involves how the product will be distributed to the customers.

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Options for this “P” include value-based, cost-plus, going-rate, and loss-leader.

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Options for this “P” include retail or direct sales.

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A coupon would this “P”.

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The spot on a shelf in which a product is found involves this “P”.

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Marketing involves this “P”.

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This pricing strategy is based solely on the buyer’s perception of the worth of a good.

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The point of this strategy is to inflate your price to make it appeal to an affluent target market.

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This is the pricing process in which the price is actually determined by the market (such as for a commodity) and not by the firm.

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In this strategy, you determine what you think is the ideal profit percentage (e.g. 20%) and add this much once the cost of production is determined.

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This strategy involves keeping your price similar to your rivals (e.g. usually gas stations that are side by side will have the same price for gas).

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Abercrombie and Fitch would use this pricing strategy.

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Lobster in a restaurant is usually priced in this way.

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Walmart, Cost-Co, and other “big box’ stores use this strategy.

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Thanksgiving Turkeys are sold using this pricing strategy.

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Selling a product for $4.99 instead of $5.00 is an example of ______ pricing.

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This kind of sales involves opening your own store or selling online.

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This kind of sales involves selling your product to another company, who actually sells your product to the customer.

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This kind of coverage is best at making the product seem more prestigious but also limits the volume of sales.

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This kind of coverage involves selling the product in as many places as possible.

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This kind of coverage involves only selling the product at couple kinds of locations.

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This era of marketing occurred between 1920-1940, and involved a shift from one company producing a product to many companies competing to sell similar products.

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This era of marketing was highlighted by being the first time the customer was the focus of businesses; companies began to seek the needs of their customers leading to heightened levels of branding within the company.

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This era of marketing involves mostly exploration, bartering, and hand-made items.

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This era began in the 1960s and involved a shift from companies marketing their own products to companies hiring other companies whose only purpose was to sell someone else’s products.

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This era of marketing began at the start of the Industrial Revolution and involved marketing the existence of new products and new technologies.

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This best describes the Relationship Marketing Era.

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This best describes the Social/Mobile Marketing Era.

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Which of the following best describes the purpose of marketing? Marketing exists to…

This “P” involves the public relations, sales, advertising, etc.

This “P” involves refers to how much you charge for your product or service.

This “P” involves the quality, features, options, services, warranties, and brand name in addition to the thing actually being purchased.

This “P” involves how the product will be distributed to the customers.

Options for this “P” include value-based, cost-plus, going-rate, and loss-leader.

Options for this “P” include retail or direct sales.

A coupon would this “P”.

The spot on a shelf in which a product is found involves this “P”.

Marketing involves this “P”.

This pricing strategy is based solely on the buyer’s perception of the worth of a good.

The point of this strategy is to inflate your price to make it appeal to an affluent target market.

This is the pricing process in which the price is actually determined by the market (such as for a commodity) and not by the firm.

In this strategy, you determine what you think is the ideal profit percentage (e.g. 20%) and add this much once the cost of production is determined.

This strategy involves keeping your price similar to your rivals (e.g. usually gas stations that are side by side will have the same price for gas).

Abercrombie and Fitch would use this pricing strategy.

Lobster in a restaurant is usually priced in this way.

Walmart, Cost-Co, and other “big box’ stores use this strategy.

Thanksgiving Turkeys are sold using this pricing strategy.

Selling a product for $4.99 instead of $5.00 is an example of ______ pricing.

This kind of sales involves opening your own store or selling online.

This kind of sales involves selling your product to another company, who actually sells your product to the customer.

This kind of coverage is best at making the product seem more prestigious but also limits the volume of sales.

This kind of coverage involves selling the product in as many places as possible.

This kind of coverage involves only selling the product at couple kinds of locations.

This era of marketing occurred between 1920-1940, and involved a shift from one company producing a product to many companies competing to sell similar products.

This era of marketing was highlighted by being the first time the customer was the focus of businesses; companies began to seek the needs of their customers leading to heightened levels of branding within the company.

This era of marketing involves mostly exploration, bartering, and hand-made items.

This era began in the 1960s and involved a shift from companies marketing their own products to companies hiring other companies whose only purpose was to sell someone else’s products.

This era of marketing began at the start of the Industrial Revolution and involved marketing the existence of new products and new technologies.

This best describes the Relationship Marketing Era.

This best describes the Social/Mobile Marketing Era.

Which of the following is NOT associated with changes as a result of the Social/Mobile Marketing Era?