Marketing Function and Product Overview
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Questions and Answers

Which of the following is NOT part of the traditional marketing mix?

  • Promotion
  • Product
  • Price
  • Placement (correct)

Consumer goods include industrial goods.

False (B)

What are the two main categories of services mentioned?

Personal and Professional Services, Commercial Services

Products used in the manufacturing process are referred to as ______.

<p>Industrial Goods</p> Signup and view all the answers

Match the following product categories with their descriptions:

<p>Consumer Goods = Goods aimed at the final consumer Industrial Goods = Used in the manufacturing process Convenience Goods = Quickly purchased items with minimal effort Specialty Goods = Unique products that require special purchasing effort</p> Signup and view all the answers

Flashcards

Marketing Function

Identifying consumer needs and selling goods/services to meet those needs, using appropriate product, price, place, and promotion.

Marketing Mix

The combination of Product, Price, Place, and Promotion used to sell goods and services.

Product

The goods or services offered to a customer.

Personal/Professional Service

Services like hairdressing and healthcare targeting the final consumer.

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Commercial Service

Services that help businesses, often referred to as B2B services.

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Industrial Goods

Goods used in the production of other goods, like raw materials or machinery.

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Consumer Goods

Goods that are directly purchased by individual consumers.

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Convenience Goods

Goods consumers frequently buy without much effort.

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Shopping Goods

Goods requiring comparison and consideration.

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Specialty Goods

Unique goods with special characteristics that consumers specifically seek.

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Study Notes

Marketing Function

  • Responsible for selling goods and services meeting consumer needs
  • Ensures the right product, price, and place, using best promotion
  • Determines consumer needs/wants through surveys
  • Delivers products satisfying those needs/wants using marketing mix
  • Traditional marketing mix: Product, Price, Place, Promotion

Product

  • Businesses need to sell the right product/service meeting customer needs
  • This includes developing new products and adapting existing ones
  • Products/services categorized into services and goods

Services

  • Personal and Professional Services: Services targeted at final consumers e.g. hairdresser, doctor
  • Commercial Services: Improve business marketing processes (transport, insurance, telecommunications, etc.) Often referred to as B2B (Business-to-Business) services

Products/Goods

  • Industrial Goods: Used in manufacturing other goods (raw materials, spare parts, machines)
  • Consumer Goods: Goods consumers want to buy, including:
    • Convenience goods
    • Shopping goods
    • Specialty goods

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Description

Explore the essentials of marketing functions and product classifications in this quiz. Learn how businesses identify consumer needs and the marketing mix components. Understand the differences between goods and services, both for consumers and businesses.

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