2. The Marketing Concept

3. The Basic Idea 1111 3333 2222 4444 5555 1111 3333 2222 4444 5555 1111 3333 2222 4444 5555 1111 3333 2222 4444 5555 1111 3333 2222 4444 5555 To Market to Market Break It Down Make a Plan Whatever

4. Question: The ______ states that businesses must do certain things in order to make a profit. Check Your Answer Topic 1 for 1

5. Answer: marketing concept Back to the Game Board Topic 1 for 1

6. Question: The marketing concept states that businesses must do what in order to make a profit? Check Your Answer Topic 1 for 2

7. Answer: satisfy customers wants and needs Back to the Game Board Topic 1 for 2

8. Question: _________ buy the product. Check Your Answer Topic 1 for 3

9. Answer: customers Back to the Game Board Topic 1 for 3

10. Question: Who uses the product? Check Your Answer Topic 1 for 4

11. Answer: consumers Back to the Game Board Topic 1 for 4

12. Question: A market is________. Check Your Answer Topic 1 for 5

13. Answer: All the potential customers that have common wants and needs and are willing and able to buy. Back to the Game Board Topic 1 for 5

14. Question: The word market has two definitions. The second one describes it as __________. Check Your Answer Topic 2 for 1

15. Answer: Total sales of a product category. Ex: soft drink market. Back to the Game Board Topic 2 for 1

16. Question: What is target marketing? Check Your Answer Topic 2 for 2

17. Answer: Focusing all marketing decisions on a very specific group of people you want to reach. Back to the Game Board Topic 2 for 2

18. Question: Companies develop a ________ ________ in order to identify their target market. Check Your Answer Topic 2 for 3

19. Answer: customer profile Back to the Game Board Topic 2 for 3

20. Question: What is the process of companies investigating and gathering information about their potential target market called? Check Your Answer Topic 2 for 4

21. Answer: market research Back to the Game Board Topic 2 for 4

22. Question: What are 2 methods of market research that you are familiar with from class? Check Your Answer Topic 2 for 5

23. Answer: surveys and questionnaires Back to the Game Board Topic 2 for 5

24. Question: Analyzing a market by specific characteristics in order to create a target market is called _______. Check Your Answer Topic 3 for 1

25. Answer: market segmentation Back to the Game Board Topic 3 for 1

26. Question: What are the four ways to segment a market? Check Your Answer Topic 3 for 2

27. Answer: demographics, psychographics, geographics and product benefits Back to the Game Board Topic 3 for 2

28. Question: Statistics about the physical characteristics of a population are called ______, and the four main categories are____,____,____ and ____. Check Your Answer Topic 3 for 3

29. Answer: demographics and age, gender, income, ethnic background. Back to the Game Board Topic 3 for 3

30. Question: What people value, their attitudes and life-styles are known as _________. Check Your Answer Topic 3 for 4

31. Answer: psychographics Back to the Game Board Topic 3 for 4

32. Question: What do geographics, demographics, product benefits and psychographics have in common? Check Your Answer Topic 3 for 5

33. Answer: They are methods to segment a market. Back to the Game Board Topic 3 for 5

34. Question: Your strategy for marketing a product is called the ______ _______. Check Your Answer Topic 4 for 1

35. Answer: marketing mix Back to the Game Board Topic 4 for 1

36. Question: The marketing mix is known as the _____ _____. Check Your Answer Topic 4 for 2

37. Answer: The four P’s Back to the Game Board Topic 4 for 2

38. Question: Name the 4 P’s. Check Your Answer Topic 4 for 3

39. Answer: product, price, place, promotion Back to the Game Board Topic 4 for 3

40. Question: T or F Selecting an appropriate name for a new snack food is a product strategy. Check Your Answer Topic 4 for 4

41. Answer: true Back to the Game Board Topic 4 for 4

42. Question: Deciding how you will advertise a product is a _______ strategy. Check Your Answer Topic 4 for 5

43. Answer: promotion Back to the Game Board Topic 4 for 5

44. Question: What is disposable income? Check Your Answer Topic 5 for 1

45. Answer: What’s left of the money you’ve earned after taxes. Back to the Game Board Topic 5 for 1

46. Question: What is discretionary income? Check Your Answer Topic 5 for 2

47. Answer: What’s left of the money you’ve earned after you have paid for life’s necessities. (Fun Money!) Back to the Game Board Topic 5 for 2

48. Question: Product, price, place and promotion strategies: a. comprise the marketing mix b. are known as the 4 P’s c. Must all be directed at a target market in order to achieve success d. All of the above Check Your Answer Topic 5 for 3

49. Answer: d Back to the Game Board Topic 5 for 3

50. Question: Baby Boomers were born from _____ to _____ and are the _______ category of consumers. Check Your Answer Topic 5 for 4

51. Answer: 1948-1964, the largest category Back to the Game Board Topic 5 for 4

52. Question: Daily Double! The owner of a store decides what items will be carried and how they will be advertised. The manager plans the other two strategies. What are they? Check Your Answer Topic 5 for 5

53. Answer: price and place Back to the Game Board Topic 5 for 5