Transcript Chapter 10 Review

Chapter 10
Review
Intro to Business
1
• Any paid form of communication
through mass media directed at
identified consumers to provide
information and influence their
actions.
• Advertising
2
• The exchange of information so
there is common understanding
by all participants
• Effective communication
3
• A specific group of consumers
that have similar wants and
needs
• Target market
4
• Anything a business offers to
satisfy a customers needs
• Product
5
• The locations and methods
used to make a product or
service available to the target
market
• distribution
6
• The blend of the marketing
elements. (The 4Ps)
• Marketing mix
7
• Intangible activities that are
consumed at the same time
they are produced
• Services
8
• The process of planning and
executing the conception, pricing,
promotion, and distribution of ideas,
goods, and services to create
exchanges that satisfy individual and
organizational objectives
• Marketing
9
• The route a product follows
and the businesses involved in
moving a product from the
producer to the final consumer
• Channel of distribution
10
• Finding solutions to problems
through carefully designed
studies involving consumers
• Marketing research
11
• A company’s plan that
identifies how it will use
marketing to achieve its goals
• Marketing strategy
12
• The reason consumers decide
what products and services to
purchase
• Buying motives
13
• Direct individualized communication
with prospective customers to
assess their needs and assist them
in satisfying those needs with
appropriate products and services.
• Personal selling
14
• Any form of communication
used to inform, persuade, or
remind.
• Promotion
15
• The money a customer must
pay for a product or service.
• Price
16
• Persons who buy products and
services for their own use.
• Final consumer
17
• Collecting information by
recording the actions of
consumers rather than asking
them questions.
• Observations
18
• Services are _______,
meaning that the availability of
a service must match the
demand for that service at a
specific time.
• Perishable
19
• The most effective form of
promotion.
• Personal selling
20
• Sponge Bob on a cereal box.
(creative format)
• Character
21
• Uses rational reasoning and
scientific information to
demonstrate why the product
is superior. (creative format)
• Scientific evidence
22
• A small group of consumers
take part in a group
discussion.
• Focus group
23
• A yes/no question.
• Close-ended question
24
• Explain why the surveys you
conducted in class were not
scientific?
• The sample surveyed was not
random
25
• Services are _______,
meaning that there will be
differences in the type and
quality of service provided.
• Heterogeneous
26
• The intersection of supply and
demand.
• Market price
27
• Persons, companies, and
organizations that buy products for
the operation of businesses, for
incorporation into other products and
services, or for resale to their
customers.
• Business consumers
28
• List the first step in the
consumer decision-making
process.
• Recognize a need
29
• Reasons to purchase based
on feelings, beliefs, and
attitudes.
• Emotional buying motives
30
• Analyzing existing information
gathered for another purpose
to solve a current problem.
• Secondary research
31
• A way to gather information
from people using a carefully
planned set of questions.
• Survey
32
• Services are _______,
meaning that they are
consumed at the same time
they are produced.
• Inseparable
33
• XYZ Construction Co. uses
only the highest quality lumber
and materials when building
homes. (creative format)
• Technical expertise
34
• A survey question where the
participant can chose any
answer they want.
• Open-ended question
35
• List a reason for the need for
distribution channels.
–Differences in quantity
–Differences in assortment
–Differences in location
–Differences in timing
36
• The most expensive form of
promotion (per person
reached).
• Personal selling
37
• An _________ presents two
carefully controlled alternatives
to subjects in order to
determine which is preferred
or has better results.
• Experiment
38
• People using the product or
service in an everyday setting.
(creative format)
• Slice-of-life
39
• A cowboy wearing Wrangler
jeans while working cattle.
(creative format)
• Lifestyle
40
• Portrays an emotion. (creative
format)
• Mood or image
41
• Reasons to purchase items
that are guided by facts and
logic.
• Rational buying motives
42
• Studies carried out to gather
new information specifically
directed at a current problem.
• Primary research
43
• Men who drives sports cars
get all the women. (creative
format)
• Fantasy
44
• The camera on a cell phone
would best be described as
which part of the product?
• Feature
45
• Services are _______,
meaning that they have no
physical form.
• Intangible
46
• Celebrities or average Joes
endorsing a product. (creative
format)
• Testimonial
47
• Explain how the product is
made. (creative format)
• Technical expertise
48
• “One day, one night,
Saturday’s alright” (creative
format)
• Musical
49
• Adding unlimited texting to a
cell phone plan would best be
described as adding a product
_________.
• Option
50
• List one of the 4 characteristics of
services.
• Intangible
• Inseparable
• Perishable
• Heterogeneous
51
• Define advertising.
• Any paid form of communication
through mass media directed at
identified consumers to provide
information and influence their
actions.
52
• Services are intangible.
What does this mean?
• Have no physical form.
53
• Define services.
• Intangible activities that are
consumed at the same time
they are produced
54
• Define marketing research.
• Finding solutions to problems
through carefully designed
studies involving consumers
55
• Define marketing strategy.
• A company’s plan that
identifies how it will use
marketing to achieve its goals
56
• Services are inseparable.
What does this mean?
• Consumed at the same
time they are produced.
57
• A woman buys a new style
of dress & immediately the
man of her dreams ask her
on a date. (creative format)
• Fantasy
58
• Define observation.
• Collect information by
recording the actions of
consumers rather than asking
them questions.
59
• Define effective
communication.
• The exchange of
information so there is
common understanding by
all participants
60
• Made from the finest
organic ingredients.
(creative format)
• Technical expertise
61
• Chuck Norris endorsing the
Total Gym. (creative
format)
• Testimonial
62
• Services are perishable. What
does this mean?
• The availability of the service
must match the demand for
that service at a specific time.
63
• Define product.
• Anything a business offers
to satisfy a customers
needs
64
• What does the word
heterogeneous mean?
• Different
65
• Define channel of distribution.
• The route a product follows
and the businesses involved in
moving a product from the
producer to the final consumer
66
• What is a final consumer.
• One who buys a product
for their own use.
67
• List a common source for
obtaining secondary
research.
• U.S. Census Bureau
68
• Services are heterogeneous.
What does this mean?
• There will be differences in the
type and quality of service
provided due to the human
element.
69
• Define target market.
• A specific group of
consumers that have
similar wants and needs
70
• Define business consumer.
• One who buys a product
for resale or to use to
product another product or
service.
71
• Another word for place.
• Distribution
72
• Clinically proven to reduces
the signs of acne by 50%
within the first week. (creative
format)
• Scientific evidence
73
• Define marketing.
• The process of planning and
executing the conception, pricing,
promotion, and distribution of ideas,
goods, and services to create
exchanges that satisfy individual and
organizational objectives
74
• The Keebler elves.
(creative format)
• Character
75
• Define marketing mix.
• 4 Ps
76
• Define distribution.
• The locations and methods
used to make a product or
service available to the target
market
77
• Define buying motives.
• Buying motives
78
• Define market price.
• The intersection of supply
and demand.
Final Question
• The marketing mix. (4 Ps)
• Product
• Place
• Price
• Promotion