Marketing

Marketing
Place, promotion, product and price. - CORRECT ANSWER-Marketing Mix

A group of people identified as those most likely to become customers that have
similar wants and needs. - CORRECT ANSWER-Target market

Paid, non personal presentation of ideas, goods, or services direct at a mass
audience by an identified sponsor. For example print, billboard, radio, TV or
pop-up commercial. - CORRECT ANSWER-Advertising

The name, symbol, slogan message or design used to identify a products
reputation and image. - CORRECT ANSWER-Brand

The tendency to buy a particular brand of a product. - CORRECT
ANSWER-Brand loyalty

A fee paid to salesperson based on a percentage of the amount they sold. For
example, real estate agents earn a commission of 3% of the value of the property
they sold. - CORRECT ANSWER-Commission

A feature that makes a product more desirable than its competitors. - CORRECT
ANSWER-Competitive advantage

Measurable characteristics that describe a population by age, gender, income,
ethnic background, education, and occupation. - CORRECT
ANSWER-Demographics

situations in which a change in price creates a change in demand. - CORRECT
ANSWER-Elastic demand

a small group of people whose opinions are studied to determine the opinions
that can be expected from a larger target market population. - CORRECT
ANSWER-focus group

The impression people have of a company; it's personality or reputation. -
CORRECT ANSWER-Image