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Questions and Answers
Which of the following is NOT a component of marketing?
Which of the following is NOT a component of marketing?
- Exchanging goods and services
- Creating goods and services
- Identifying customers
- Managing business operations (correct)
What is the difference between B2B and B2C marketing?
What is the difference between B2B and B2C marketing?
- B2B marketing focuses on creating goods, while B2C marketing focuses on delivering services
- B2B marketing is conducted by the seller, while B2C marketing is conducted by a marketing firm
- B2B marketing is more common than B2C marketing
- B2B marketing targets businesses, while B2C marketing targets consumers (correct)
Which of the following is an example of a trade association or government agency advertising on behalf of an industry?
Which of the following is an example of a trade association or government agency advertising on behalf of an industry?
- Marketing products directly to consumers
- Contracting tasks to a marketing firm
- Promoting a specific type of food (correct)
- Advertising a tourism destination
What are market orientations?
What are market orientations?
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What does the marketing mix outline?
What does the marketing mix outline?
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Study Notes
Marketing Fundamentals
- Price, Product, Place, and Promotion are the 4 Ps, also known as the marketing mix.
B2B vs B2C Marketing
- B2B (Business-to-Business) marketing involves selling products or services to other businesses or organizations.
- B2C (Business-to-Consumer) marketing involves selling products or services directly to individual consumers.
Trade Associations and Government Agencies
- The Got Milk? campaign is an example of a trade association (dairy farmers) advertising on behalf of an industry.
Market Orientations
- Market orientations refer to an organization's focus on satisfying customer needs and wants.
Marketing Mix
- The marketing mix outlines the 4 Ps: Price, Product, Place, and Promotion, which are used to create a marketing strategy.
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