Podcast
Questions and Answers
Which of the following is NOT part of the traditional marketing mix?
Which of the following is NOT part of the traditional marketing mix?
Consumer goods include industrial goods.
Consumer goods include industrial goods.
False (B)
What are the two main categories of services mentioned?
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 ______.
Products used in the manufacturing process are referred to as ______.
Signup and view all the answers
Match the following product categories with their descriptions:
Match the following product categories with their descriptions:
Signup and view all the answers
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
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
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.
