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MARKETING EOPA TEST NEWEST 2024 ACTUAL EXAM COMPLETE 415 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ $14.49   Add to cart
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MARKETING EOPA TEST NEWEST 2024 ACTUAL EXAM COMPLETE 415 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
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MARKETING EOPA TEST NEWEST 2024 ACTUAL EXAM COMPLETE 415 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+

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  • August 19, 2024
  • 65
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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MARKETING EOPA TEST NEWEST 2024
ACTUAL EXAM COMPLETE 415 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+

Define Marketing - ANSWER✔✔ Marketing is a process of developing, promoting,
pricing, and distributing goods and
services to customers in order to satisfy customer needs and wants.


What are the 7 functions of marketing? - ANSWER✔✔ 1. Distribution
2. Financing
3. Marketing Information Management
4. Pricing
5. Product/Service Management
6. Promotion
7. Selling


Product/Service Management - ANSWER✔✔ The process of planning, improving,
and/or adding to a firm's product line.


Distribution - ANSWER✔✔ Decisions surrounding the
transportation and storage of goods from
producer to consumer.


Finance - ANSWER✔✔ Decisions about how to find the

,money to invest in the business and helping
customers to find ways to purchase the
product.


Marketing Information Systems/Market

Research - ANSWER✔✔ Collecting and analyzing
information in order to make decisions about
a product/service


Pricing - ANSWER✔✔ Deciding the amount to charge
customers for products/services based on
demand, completion, and the costs of raw
materials


Promotion - ANSWER✔✔ Informing, reminding or persuading
customers about a product, the company or a
social cause that is important to the
company.


Selling - ANSWER✔✔ Personally communicating with the
customer in order to help them purchase a
product.


Marketing Mix - ANSWER✔✔ product, price, place and promotion

,Service - ANSWER✔✔ action that a person does for someone else


Good - ANSWER✔✔ Object people want that they can touch or hold


Utility (Economic Utility) - ANSWER✔✔ Measurement of "useful-ness" that a
consumer obtains from any good or service


5 economic utilities - ANSWER✔✔ form, place, time, possession, information


Brick & mortar, catalogs, internet, etc are all forms of which utility? - ANSWER✔✔
Place


Extended hours, limited hours, exclusive release are changes to which utility? -
ANSWER✔✔ Time


Cash, Check, Credit Card, Apple Pay, Venmo are _________ utility. - ANSWER✔✔
Possession


Changing raw materials in to goods. Making a Product or putting parts together to
make a product more useful is ______________________ - ANSWER✔✔ Form
Utility


Promotion, Personal Selling, Advertising, Social Media. Any communication about
a good or service is ______________ utility - ANSWER✔✔ Information

, geographic segmentation - ANSWER✔✔ _____________ segmentation divides
markets into physical locations, such as Northern, Southern, Eastern, Western
region of the U.S.


market - ANSWER✔✔ A customer or potential customer who has an unfulfilled
desire and is financially able and willing to satisfy that desire is known as a


mass marketing - ANSWER✔✔ When sellers design products that will appeal to
most buyers and direct their marketing activities to the whole market, they are
using


Market Segmentation - ANSWER✔✔ Dividing a total market into smaller more
specific groups is known as


Demographic - ANSWER✔✔ What type of segmentation divides markets by
characteristics people have in common that affect their purchasing power?


Geographic - ANSWER✔✔ Customers in cold climates who need warm clothes are
an example of which market segment:


Young, Single - ANSWER✔✔ LIFE STAGE


Income Level - ANSWER✔✔ Demographic Segmentation


psychographic segmentation - ANSWER✔✔ Identifying customers on the basis of
their lifestyles and personalities is an example of _____ segmentation.

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