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The Marketing Concept The Basic Idea 1111 3333 2222 4444 5555 1111 3333 2222 4444 5555 1111 3333...

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The Marketing Concept
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Page 1: The Marketing Concept 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.

The Marketing Concept

Page 2: The Marketing Concept 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.

The Basic Idea

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To Market To Market to Marketto Market

Break It Break It DownDown

Make a Make a PlanPlan

WhateverWhatever

Page 3: The Marketing Concept 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.

Question: The ______ states that businesses must do certain things in order to make a profit.

Check Your Answer

Topic 1 for 1

Page 4: The Marketing Concept 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.

Answer: marketing concept

Back to the Game Board

Topic 1 for 1

Page 5: The Marketing Concept 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.

Question: The marketing concept states that businesses must do what in order to make a profit?

Check Your Answer

Topic 1 for 2

Page 6: The Marketing Concept 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.

Answer: satisfy customers wants and needs

Back to the Game Board

Topic 1 for 2

Page 7: The Marketing Concept 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.

Question: _________ buy the product.

Check Your Answer

Topic 1 for 3

Page 8: The Marketing Concept 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.

Answer: customers

Back to the Game Board

Topic 1 for 3

Page 9: The Marketing Concept 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.

Question: Who uses the product?

Check Your Answer

Topic 1 for 4

Page 10: The Marketing Concept 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.

Answer: consumers

Back to the Game Board

Topic 1 for 4

Page 11: The Marketing Concept 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.

Question: A market is________.

Check Your Answer

Topic 1 for 5

Page 12: The Marketing Concept 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.

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

Page 13: The Marketing Concept 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.

Question: The word market has two definitions. The second one describes it as __________.

Check Your Answer

Topic 2 for 1

Page 14: The Marketing Concept 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.

Answer: Total sales of a product category. Ex: soft drink market.

Back to the Game Board

Topic 2 for 1

Page 15: The Marketing Concept 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.

Question: What is target marketing?

Check Your Answer

Topic 2 for 2

Page 16: The Marketing Concept 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.

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

Page 17: The Marketing Concept 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.

Question: Companies develop a ________ ________ in order to identify their target market.

Check Your Answer

Topic 2 for 3

Page 18: The Marketing Concept 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.

Answer: customer profile

Back to the Game Board

Topic 2 for 3

Page 19: The Marketing Concept 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.

Question: What is the process of companies investigating and gathering information about their potential target market called?

Check Your Answer

Topic 2 for 4

Page 20: The Marketing Concept 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.

Answer: market research

Back to the Game Board

Topic 2 for 4

Page 21: The Marketing Concept 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.

Question: What are 2 methods of market research that you are familiar with from class?

Check Your Answer

Topic 2 for 5

Page 22: The Marketing Concept 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.

Answer: surveys and questionnaires

Back to the Game Board

Topic 2 for 5

Page 23: The Marketing Concept 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.

Question: Analyzing a market by specific characteristics in order to create a target market is called _______.

Check Your Answer

Topic 3 for 1

Page 24: The Marketing Concept 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.

Answer: market segmentation

Back to the Game Board

Topic 3 for 1

Page 25: The Marketing Concept 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.

Question: What are the four ways to segment a market?

Check Your Answer

Topic 3 for 2

Page 26: The Marketing Concept 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.

Answer: demographics, psychographics, geographics and product benefits

Back to the Game Board

Topic 3 for 2

Page 27: The Marketing Concept 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.

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

Page 28: The Marketing Concept 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.

Answer: demographics and age, gender, income, ethnic background.

Back to the Game Board

Topic 3 for 3

Page 29: The Marketing Concept 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.

Question: What people value, their attitudes and life-styles are known as _________.

Check Your Answer

Topic 3 for 4

Page 30: The Marketing Concept 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.

Answer: psychographics

Back to the Game Board

Topic 3 for 4

Page 31: The Marketing Concept 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.

Question: What do geographics, demographics, product benefits and psychographics have in common?

Check Your Answer

Topic 3 for 5

Page 32: The Marketing Concept 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.

Answer: They are methods to segment a market.

Back to the Game Board

Topic 3 for 5

Page 33: The Marketing Concept 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.

Question: Your strategy for marketing a product is called the ______ _______.

Check Your Answer

Topic 4 for 1

Page 34: The Marketing Concept 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.

Answer: marketing mix

Back to the Game Board

Topic 4 for 1

Page 35: The Marketing Concept 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.

Question: The marketing mix is known as the _____ _____.

Check Your Answer

Topic 4 for 2

Page 36: The Marketing Concept 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.

Answer: The four P’s

Back to the Game Board

Topic 4 for 2

Page 37: The Marketing Concept 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.

Question: Name the 4 P’s.

Check Your Answer

Topic 4 for 3

Page 38: The Marketing Concept 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.

Answer: product, price, place, promotion

Back to the Game Board

Topic 4 for 3

Page 39: The Marketing Concept 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.

Question: T or F

Selecting an appropriate name for a new snack food is a product strategy.

Check Your Answer

Topic 4 for 4

Page 40: The Marketing Concept 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.

Answer: true

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Topic 4 for 4

Page 41: The Marketing Concept 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.

Question: Deciding how you will advertise a product is a _______ strategy.

Check Your Answer

Topic 4 for 5

Page 42: The Marketing Concept 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.

Answer: promotion

Back to the Game Board

Topic 4 for 5

Page 43: The Marketing Concept 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.

Question: What is disposable income?

Check Your Answer

Topic 5 for 1

Page 44: The Marketing Concept 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.

Answer: What’s left of the money you’ve earned after taxes.

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Topic 5 for 1

Page 45: The Marketing Concept 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.

Question: What is discretionary income?

Check Your Answer

Topic 5 for 2

Page 46: The Marketing Concept 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.

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

Page 47: The Marketing Concept 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.

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

Page 48: The Marketing Concept 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.

Answer: d

Back to the Game Board

Topic 5 for 3

Page 49: The Marketing Concept 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.

Question: Baby Boomers were born from _____ to _____ and are the _______ category of consumers.

Check Your Answer

Topic 5 for 4

Page 50: The Marketing Concept 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.

Answer: 1948-1964 , the largest category

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Topic 5 for 4

Page 51: The Marketing Concept 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.

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

Page 52: The Marketing Concept 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.

Answer: price and place

Back to the Game Board

Topic 5 for 5


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