INTRO TO BUSINESS 100 FINAL EXAM
STUDY GUIDE CORRECT 100%
4 factors in marketing mix - ANSWER 1. Product
2. Price
3. Promotion
4. Distribution
the marketing mix idea - ANSWER the idea is to dvelop a product customers want, price
it effectively, distribute it to customers online and promote it so customers know it exists
product - ANSWER _ designing a satisfying-want product
_any physical goods, services or idea that satisfy customers plus anything that enhance
products in the eyes of customers, such as a brand
pricing - ANSWER setting a price for product and service
promotion - ANSWER _promoting the product
_any techniques seller use to infor people about and motivates people buy their product
or service
distribution - ANSWER putting a product to a place where people can buy it
Customer Relationship Management (CRM) - ANSWER a process of learning as much
as possible about customer and doing everything to satisfy them or even exceed their
expectation with product or service
what comes from original sources? - ANSWER Primary data
where orgininal materials in which other research is based come from? - ANSWER
primary source
another name of existing information - ANSWER primary data
advantage of primary data - ANSWER more useful
disavantage of primary data - ANSWER more expensive and more time to attain
disavantage of secondary data - ANSWER it is less usefull
secondary sources - ANSWER interpretation and evaluation of primary sources
focus group - ANSWER _strutured interview with a small group
, _a small group who meet under direction of the discussion leader to communicate their
opinions about organizations, its product, or other given issues
consumer market - ANSWER all individuals and households that want good for personal
consumption and use
target marketing - ANSWER _who are you trying to buy to?
_marketing directed toward those groups (market segments) an organization decides it
can serve profitably
demographic segmentation - ANSWER deviding market by objective means including
age, income, education level
psychography segmentation - ANSWER deviding market by subjective means including
group's values, attitudes, life style, opinions, interest
benefit segmentation - ANSWER deviding the market by determining which benefit of
product we talk about
volume segmentation - ANSWER deviding market by usage (volume of use)
niche marketing - ANSWER the process of finding small but profitable market segments
and designing or finding products for them
mass marketing - ANSWER developing products and promotion to please large groups
of people
B2B (business to business) marketing - ANSWER all individuals or organizations that
want goods and services to use in producing other goods and services or to sell, rend,
or supply goods to others
relationship marketing - ANSWER a maketing strategy with the goal keeping individual
customers over time by offering them product that exactly meet their requirments
difference between B2B and consumer marketing - ANSWER B2B relies more on
personal selling
Consumer marketing relies more on advertising
value - ANSWER good quality at a fair price, when customers calculate the value of
product, they look at benefits and then they subtract cost to see if the benefits exceed
cost
total product offer - ANSWER everything that consumer evaluate when deciding
whether buy someting, it also called value package
STUDY GUIDE CORRECT 100%
4 factors in marketing mix - ANSWER 1. Product
2. Price
3. Promotion
4. Distribution
the marketing mix idea - ANSWER the idea is to dvelop a product customers want, price
it effectively, distribute it to customers online and promote it so customers know it exists
product - ANSWER _ designing a satisfying-want product
_any physical goods, services or idea that satisfy customers plus anything that enhance
products in the eyes of customers, such as a brand
pricing - ANSWER setting a price for product and service
promotion - ANSWER _promoting the product
_any techniques seller use to infor people about and motivates people buy their product
or service
distribution - ANSWER putting a product to a place where people can buy it
Customer Relationship Management (CRM) - ANSWER a process of learning as much
as possible about customer and doing everything to satisfy them or even exceed their
expectation with product or service
what comes from original sources? - ANSWER Primary data
where orgininal materials in which other research is based come from? - ANSWER
primary source
another name of existing information - ANSWER primary data
advantage of primary data - ANSWER more useful
disavantage of primary data - ANSWER more expensive and more time to attain
disavantage of secondary data - ANSWER it is less usefull
secondary sources - ANSWER interpretation and evaluation of primary sources
focus group - ANSWER _strutured interview with a small group
, _a small group who meet under direction of the discussion leader to communicate their
opinions about organizations, its product, or other given issues
consumer market - ANSWER all individuals and households that want good for personal
consumption and use
target marketing - ANSWER _who are you trying to buy to?
_marketing directed toward those groups (market segments) an organization decides it
can serve profitably
demographic segmentation - ANSWER deviding market by objective means including
age, income, education level
psychography segmentation - ANSWER deviding market by subjective means including
group's values, attitudes, life style, opinions, interest
benefit segmentation - ANSWER deviding the market by determining which benefit of
product we talk about
volume segmentation - ANSWER deviding market by usage (volume of use)
niche marketing - ANSWER the process of finding small but profitable market segments
and designing or finding products for them
mass marketing - ANSWER developing products and promotion to please large groups
of people
B2B (business to business) marketing - ANSWER all individuals or organizations that
want goods and services to use in producing other goods and services or to sell, rend,
or supply goods to others
relationship marketing - ANSWER a maketing strategy with the goal keeping individual
customers over time by offering them product that exactly meet their requirments
difference between B2B and consumer marketing - ANSWER B2B relies more on
personal selling
Consumer marketing relies more on advertising
value - ANSWER good quality at a fair price, when customers calculate the value of
product, they look at benefits and then they subtract cost to see if the benefits exceed
cost
total product offer - ANSWER everything that consumer evaluate when deciding
whether buy someting, it also called value package
