Marketing Fundamentals
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Questions and Answers

What is the primary goal of marketing?

  • Maximizing profits for the seller
  • Minimizing costs for the manufacturer
  • Creating, communicating, delivering, and exchanging goods and services (correct)
  • Satisfying the shareholders
  • Who typically conducts marketing activities?

  • Trade associations or government agencies
  • Consumers
  • Retailers or manufacturers (correct)
  • Market research firms only
  • What are the two main categories for marketing products?

  • B2C and B2G
  • B2C and C2C
  • B2B and C2C
  • B2B and B2C (correct)
  • What impacts the marketing mix of a product?

    <p>Product characteristics, market research, and environmental factors</p> Signup and view all the answers

    What must marketers determine after considering various factors?

    <p>Methods of promoting the product</p> Signup and view all the answers

    Which element of the marketing mix involves decisions related to distribution channels, retail locations, and online platforms?

    <p>Place (Distribution)</p> Signup and view all the answers

    What does the 'Four Ps of Marketing' refer to?

    <p>Four essential components of marketing mix</p> Signup and view all the answers

    Which component of the marketing mix includes the design, features, quality, packaging, and branding of a product?

    <p>Product</p> Signup and view all the answers

    What is the main focus of the 'Price' component in the marketing mix?

    <p>Setting the right price for the product or service</p> Signup and view all the answers

    Which component of the marketing mix involves activities such as advertising, sales promotions, public relations, and social media marketing?

    <p>Promotion</p> Signup and view all the answers

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