Marketing Exam Review

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when supply equals demand
prevents surplus, shortage, scarcity
fifth function of marketing
something marketed-tangible
types of advertising-really cheap
the indicator of how economis are doing
the amount of goods producers are willing/able to sell/make
window displays-all about an image (Macy's)
GDP w/o expenses, the net product
TJ Max buying extra stuff, ________ surplus
example of a mixed economy
window classes-one view, head on
resources and _____ can change supply
what does it do?
fourth function of marketing
process from which an idea is formed, developed, promoted and distributed
window displays-anyone could touch it
something marketed intangible
rate that changes based on the economy
limited resources
types of advertising-55% of Americans read
had an steel monopoly
act-can't discriminate over prices
act-to stop monopolies
act-fair prices
QuestionAnswer
types of advertising-most expensive
seventh function of marketing
Controling a market
what do people need/want?
window displays-has different products, or just one
fifth utility-when will it be sold
face of the company
second function of marketing-how to pay for it (capital)
what is Economic Benefits Marketing made of?
free enterprise economy
technology generation, most brand loyal (1977-1997)
third utility-what is on the product? instructions, hazards, etc.
third function of marketing-how much should we charge?
first function of marketing
fundamentals on how our country works
how will it get there?
not enough supply for demand
excess supply
most profit margins are more than ____%
act-prevented unfairness/deceptiveness in commerce
second utility-location, slotting
on supply vs demand graph, always down to the right
fourth utility-exchange something for $
had an oil monopoly
__________ shortages, limited editions will cost more
QuestionAnswer
example of a free enterprise economy
breaking up a group of people by specific things or traits
had an train monopoly
types of advertising-visually appealing
first utility-has to fit your needs
window displays-can't be reached or touched
next generation (1965-1976)
discounts on rates and taxes
act-can't give allowances
largest legal monopoly in USA
cost of borrowing money (Rate)
window classes-two adjacent sides viewed
mixed economy
window classes-can see from multiple angles
affected by holidays, trends, and current events
current rates called _____ stage, as low as in 1950's
Measurement of all things we produce and services we provide
Generation that makes up 51% of wealth in USA (1946-1964)
on supply vs demand graph, always up to the right
target marketing is part of this
studies of statistics that describe a population
command economy
sixth function of marketing
example of a command economy

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