01-6 Unit I study Guide chapter_1_study_guide

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Marketing I
Name _________________________________
Chapter 1 Study Guide
Fill out this work sheet completely and accurately. Place in your notebook folder.
Define the following terms. For the test be able to explain how they apply as well
Marketing
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The Marketing Concept
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Products
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Goods
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Service
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Ideas
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Utility
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Form Utility
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Place Utility
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Time Utility
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Possession Utility
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Information Utility
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Market
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Consumer Market
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Industrial Market
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Market Share
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Target Market
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Customer Profile
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Explain how the concept of “Utility” is used when designing a marketing plan?
Great marketing uses emotion to connect customers to products. Explain how products crossover and blend goods,
services and ideas. Provide an example and describe a product using two or more of these components.
Name and define the “seven functions of marketing.”
1. ____________________________________________________________________________________________
2. ____________________________________________________________________________________________
3. ____________________________________________________________________________________________
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Name the two product benefits that result from marketing. Explain the process that occurs leading to each benefit and
then who benefits.
Give an example of a both a consumer product and an industrial product, explaining how they fit into that category
Name and define the components of the “Marketing Mix?”
1)
2)
3)
4)
The Marketing Mix is commonly referred to as the _________________.
True or False? The Marketing Mix is a central component of Marketing Plan?
Provide an example of a product and then explain the marketing mix that applies as you see it.
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