Marketing – Midterm Exam

Seven Functions of Marketing: A team of workers approach customers in a mall to ask them their opinion about a new flavor of ice cream.
marketing information management
Seven Functions of Marketing: A company uses information from its sales records to reduce its product line by eliminating the products that did not sell well in the last two years.
product/service management
Seven Functions of Marketing: A small manufacturer applies for a bank loan in order to upgrade its computer software.
financing
Seven Functions of Marketing: A manufacturer of sneakers signs a contract with a company that specializes in trucking and warehousing of imported goods.
distribution
Seven Functions of Marketing: A retailer decides to mark down all winter jackets in March.
pricing
Seven Functions of Marketing: A retail store employee puts a pair of roller blades on a customer and asks how they feel.
selling
Seven Functions of Marketing: A television commercial stresses the benefits of buying a new watch.
promotion
Five Types of Utility: Offering installment credit in the sale of appliances.
possession
Five Types of Utility: A company website offering the sale of its products directly to consumers.
place
Five Types of Utility: Adding aloe to hand soap.
form
Five Types of Utility: Offering overnight delivery of candy and fresh flowers on February 13.
time
Five Types of Utility: Including a link on a company website that explains how to return used laser printer ink cartridges.
information
Seven Elements of a Marketing Plan: The introduction of the plan, provides information about each section and sells the plan to readers.
Executive Summary
Seven Elements of a Marketing Plan: Snapshot of the company’s present position including results of the SWOT analysis.
Situation Analysis
Seven Elements of a Marketing Plan: Defines how the company is going to meet its objectives using the marketing mix.
Marketing Strategies
Seven Elements of a Marketing Plan: How the company is going to put its plan into effect.
implementation
Seven Elements of a Marketing Plan: Supplemental materials.
Appendix
Seven Elements of a Marketing Plan: How the plan will be evaluated and what should be done if objectives are not met.
Evaluation and control
Seven Elements of a Marketing Plan: Defines specific goals to be met.
Objectives