Marketing - Study Mode
[#216] One of the key tasks of marketers is ____________ and to create consumer perceptions that the product is worth purchasing.
Correct Answer
(C) To differentiate their products from those of competitors
Explanation
Solution: One of the key tasks of marketers is to differentiate their products from those of competitors and to create consumer perceptions that the product is worth purchasing.
[#217] ________ markets are made up of members of the distribution chain.
Correct Answer
(C) Channel
Explanation
Solution: Channel markets are made up of members of the distribution chain. Channel marketing is what facilitates the movement of products from the manufacturer to the consumer. Also referred to as intermediaries, channel partners ensure that the products reach their intended audience. Such business partnerships help to reduce the cost of delivery and improve efficiency.
[#218] _______ markets include a wide variety of profit and non-profit organizations, such as hospitals, government agencies, and schools, which provide goods and services for the benefit of society.
Correct Answer
(D) Institutional
Explanation
Solution: Institutional markets include a wide variety of profit and non-profit organizations, such as hospitals, government agencies, and schools, which provide goods and services for the benefit of society. Institutional markets are entities such as cafeterias in state and local government buildings, schools, universities, prisons, hospitals, or similar organizations. These institutions are becoming more interested in buying local food, which provides a new marketing opportunity for a medium to large-scale farm.
[#219] The promotion “P” of marketing is also known as ________.
Correct Answer
(D) Marketing Communication
Explanation
Solution: The promotion “P” of marketing is also known as Marketing Communication. Marketing communications are those techniques that the company or a business individual uses to convey promotional messages about their products and services.
[#220] When a company distributes its products through a channel structure that includes one or more resellers, this is known as ________.
Correct Answer
(A) Indirect marketing
Explanation
Solution: When a company distributes its products through a channel structure that includes one or more resellers, this is known as Indirect marketing. Indirect marketing is a way for a business to market their product, idea, or service without having to use the methods of SPAM or direct advertising and marketing.