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Chapter 13 Vocabulary
Test Description: Chapter 13 Vocabulary
Instructions: Answer all questions to get your test result.
1) Is the process of creating, promoting, and presenting a product or service to meet the wants and needs of consumers, wherever they are.
A
Relationship marketing
B
Marketing
C
Market
D
Marketing Mix
2) Is a group of customers who share common wants and needs.
A
Market
B
Marketing
C
Marketing Mix
D
Relationship marketing
3) Is to build and maintain relationships with their customers.
A
Market
B
Relationship marketing
C
Marketing Mix
D
Marketing
4) Consists of four basic marketing strategies: product, place, price, and promotion, collectively know at the FOUR Ps.
A
Market
B
Relationship marketing
C
Marketing Mix
D
Marketing
5) Is a pathway to direct products to consumers.
A
Break-even point
B
Direction Distribution
C
Channel of Distribution
D
Indirect Distribution
6) Involves one or more intermediaries.
A
Channel of Distribution
B
Indirect Distribution
C
Break-even point
D
Direction Distribution
7) Is the point at which total revenues, or sales, equal total costs and expenses of developing and offering a product or service.
A
Indirect Distribution
B
Channel of Distribution
C
Break-even point
D
Direction Distribution
8) Occurs when goods or services are sold form the producer directly to the consumer.
A
Direction Distribution
B
Indirect Distribution
C
Break-even point
D
Channel of Distribution
9) Are facts about the population. These facts could include age, gender, location, and income.
A
Marketing concept
B
Market research
C
Demographics
D
Target marketing
10) Involves determining the wants and needs of customers and providing them more efficiently and effectively than competitors.
A
Marketing concept
B
Demographics
C
Target marketing
D
Market research
11) Is the gathering and analysis of information on the size, location, and makeup of a market.
A
Market research
B
Demographics
C
Target marketing
D
Marketing concept
12) Helps companies focus on the people most likely to buy their goods or services.
A
Target marketing
B
Marketing concept
C
Demographics
D
Market research
13) Is the division of a market for a product into groups of customers who have the same needs and traits.
A
Marketing concept
B
Market segmentation
C
Test-market
D
Target marketing
14) To test-market means to offer it in a limited market for a limited amount of time.
A
Market segmentation
B
Test-market
C
Marketing concept
D
Target marketing
*select an answer for all questions
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