Types of Markets and Marketing

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Questions and Answers

What is the primary way in which businesses used to sell things in the past?

  • By mail order
  • In physical places called markets (correct)
  • On the Internet
  • Through newspapers

What are examples of items sold in Consumer Goods Markets?

  • Currencies and financial products
  • Food, cosmetics, and magazines (correct)
  • Oil, copper, and wheat
  • Business services like auditing

What is the main focus of Marketing?

  • Creating products that meet people's needs (correct)
  • Keeping an eye on what other companies are doing
  • Setting a fair price
  • Selling things

What is a characteristic of Mass Market?

<p>Big companies sell the same products to a lot of people in the same way (C)</p> Signup and view all the answers

What do Financial Markets deal with?

<p>Trading currencies and financial products (C)</p> Signup and view all the answers

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Study Notes

Traditional Sales Methods

  • Businesses used to sell things primarily through physical storefronts and face-to-face interactions.

Consumer Goods Markets

  • Examples of items sold in Consumer Goods Markets include:
    • Household goods (e.g. cleaning products, kitchen appliances)
    • Clothing and accessories
    • Electronics (e.g. phones, laptops)
    • Food and beverages

Marketing Focus

  • The main focus of Marketing is to understand and satisfy customer needs and wants.

Mass Market Characteristics

  • A characteristic of Mass Market is that it targets a large, homogeneous audience with a standardized product or service.

Financial Markets

  • Financial Markets deal with the exchange of financial assets such as:
    • Stocks
    • Bonds
    • Currencies
    • Commodities

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