FBLA Marketing Exam: Questions and Answers 2024, Exams of Advanced Education

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FBLA Marketing Exam With Correct

Questions And Answers 2024

marketing - CORRECT ANSWERS-process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives minor marketing activities - CORRECT ANSWERS-hearing, seeing, talking important marketing activities - CORRECT ANSWERS-storing products, distribution centers, accepting credit, and arranging means of online payment 7 fnts of marketing - CORRECT ANSWERS-marketing, financing, pricing, promotion, product/service management, distribution, and selling product/service management - CORRECT ANSWERS-designing, developing, maintaining, improving, and acquiring products and services that meet consumer needs distribution - CORRECT ANSWERS-determining the best ways for customers to locate, obtain, and use the products and services of an organization selling - CORRECT ANSWERS-communicating directly with potential customers to determine and satisfy their needs marketing-information management - CORRECT ANSWERS-obtaining, managing, and using market information to improve business decision making and the performance of marketing activities financing - CORRECT ANSWERS-budgeting for marketing activities, obtaining the necessary funds needed for operations, and providing financial assistance to customers so they can purchase the business' products and services pricing - CORRECT ANSWERS-setting and communicating the value of products and services promotion - CORRECT ANSWERS-communicating information about products and services to potential customers marketing strategy - CORRECT ANSWERS-a company's plan that identifies how it will use marketing to achieve its goals target market - CORRECT ANSWERS-specific group of consumers that have similar wants and needs

marketing mix - CORRECT ANSWERS-blending of four marketing elements->product, distribution, price, and promotion marketing orientation - CORRECT ANSWERS-considers the needs of customers when developing a marketing mix final consumers - CORRECT ANSWERS-people who buy products and services mostly for their own good business consumers - CORRECT ANSWERS-persons, companies, and organizations that buy products for the operation of business, for incorporation into other products and services, or for resale to their customers consumer decision making process - CORRECT ANSWERS-1. recognize a need

2. gather info
3. select and evaluate alternatives
4. make a purchase or decision
5. determine the effectiveness of the decision buying motives - CORRECT ANSWERS-emotional and rational marketing research - CORRECT ANSWERS-finding solutions to problems through carefully designed studies involving consumers plan marketing research - CORRECT ANSWERS-1. define the marketing problem
6. study the situation
7. develop a data collection procedure
8. gather and analyze info
9. propose a solution 2 types of research studies - CORRECT ANSWERS--surveys to gather info -focus groups to find areas of agreement and disagreement in products production planning - CORRECT ANSWERS-the right product for your target market is crucial for your business product - CORRECT ANSWERS-everything a business offers to satisfy a customers needs basic product - CORRECT ANSWERS-simplest form of a product product features - CORRECT ANSWERS-additions and improvements to the basic product brand name - CORRECT ANSWERS-unique identification