Understanding the Marketing Concept: Key Questions and Strategies

1. Quiz Show Review The Marketing Concept

2. The Basic Idea To Market to Market Break It Down Make a Plan Whatever 1 1 1 1 1 2 2 2 2 2 3 3 3 3 3 4 4 4 4 4 5 5 5 5 5

3. Topic 1 for 1 Question: The ______ states that businesses must do certain things in order to make a profit. Check Your Answer

4. Topic 1 for 1 Answer: marketing concept Back to the Game Board

5. Topic 1 for 2 Question: The marketing concept states that businesses must do what in order to make a profit? Check Your Answer

6. Topic 1 for 2 Answer: satisfy customers wants and needs Back to the Game Board

7. Topic 1 for 3 Question: _________ buy the product. Check Your Answer

8. Topic 1 for 3 Answer: customers Back to the Game Board

9. Topic 1 for 4 Question: Who uses the product? Check Your Answer

10. Topic 1 for 4 Answer: consumers Back to the Game Board

11. Topic 1 for 5 Question: A market is________. Check Your Answer

12. Topic 1 for 5 Answer: All the potential customers that have common wants and needs and are willing and able to buy. Back to the Game Board

13. Topic 2 for 1 Question: The word market has two definitions. The second one describes it as __________. Check Your Answer

14. Topic 2 for 1 Answer: Total sales of a product category. Ex: soft drink market. Back to the Game Board

15. Topic 2 for 2 Question: What is target marketing? Check Your Answer

16. Topic 2 for 2 Answer: Focusing all marketing decisions on a very specific group of people you want to reach. Back to the Game Board

17. Topic 2 for 3 Question: Companies develop a ________ ________ in order to identify their target market. Check Your Answer

18. Topic 2 for 3 Answer: customer profile Back to the Game Board

19. Topic 2 for 4 Question: What is the process of companies investigating and gathering information about their potential target market called? Check Your Answer

20. Topic 2 for 4 Answer: market research Back to the Game Board

21. Topic 2 for 5 Question: What are 2 methods of market research that you are familiar with from class? Check Your Answer

22. Topic 2 for 5 Answer: surveys and questionnaires Back to the Game Board

23. Topic 3 for 1 Question: Analyzing a market by specific characteristics in order to create a target market is called _______. Check Your Answer

24. Topic 3 for 1 Answer: market segmentation Back to the Game Board

25. Topic 3 for 2 Question: What are the four ways to segment a market? Check Your Answer

26. Topic 3 for 2 Answer: demographics, psychographics, geographics and product benefits Back to the Game Board

27. Topic 3 for 3 Question: Statistics about the physical characteristics of a population are called ______, and the four main categories are____,____,____ and ____. Check Your Answer

28. Topic 3 for 3 Answer: demographics and age, gender, income, ethnic background. Back to the Game Board

29. Topic 3 for 4 Question: What people value, their attitudes and life-styles are known as _________. Check Your Answer

30. Topic 3 for 4 Answer: psychographics Back to the Game Board

31. Topic 3 for 5 Question: What do geographics, demographics, product benefits and psychographics have in common? Check Your Answer

32. Topic 3 for 5 Answer: They are methods to segment a market. Back to the Game Board

33. Topic 4 for 1 Question: Your strategy for marketing a product is called the ______ _______. Check Your Answer

34. Topic 4 for 1 Answer: marketing mix Back to the Game Board

35. Topic 4 for 2 Question: The marketing mix is known as the _____ _____. Check Your Answer

36. Topic 4 for 2 Answer: The four P’s Back to the Game Board

37. Topic 4 for 3 Question: Name the 4 P’s. Check Your Answer

38. Topic 4 for 3 Answer: product, price, place, promotion Back to the Game Board

39. Topic 4 for 4 Question: T or F Selecting an appropriate name for a new snack food is a product strategy. Check Your Answer

40. Topic 4 for 4 Answer: true Back to the Game Board

41. Topic 4 for 5 Question: Deciding how you will advertise a product is a _______ strategy. Check Your Answer

42. Topic 4 for 5 Answer: promotion Back to the Game Board

43. Topic 5 for 1 Question: What is disposable income? Check Your Answer

44. Topic 5 for 1 Answer: What’s left of the money you’ve earned after taxes. Back to the Game Board

45. Topic 5 for 2 Question: What is discretionary income? Check Your Answer

46. Topic 5 for 2 Answer: What’s left of the money you’ve earned after you have paid for life’s necessities. (Fun Money!) Back to the Game Board

47. Topic 5 for 3 Question: Product, price, place and promotion strategies: a. comprise the marketing mix b. are known as the 4 P’s c. Must all be directed at a target market in order to achieve success d. All of the above Check Your Answer

48. Topic 5 for 3 Answer: d Back to the Game Board

49. Topic 5 for 4 Question: Baby Boomers were born from _____ to _____ and are the _______ category of consumers. Check Your Answer

50. Topic 5 for 4 Answer: 1948-1964 , the largest category Back to the Game Board