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3.01-3.02 Review Questions

3.01-3.02 Review Questions. 3.01. What is Marketing? What is Fashion Merchandising? What is the marketing concept? What is a target market? What is market segmentation? What are the 4 ways in which a market is segmented? Geographic, Demographic, Psychographic, Behavioral. 3.01.

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3.01-3.02 Review Questions

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  1. 3.01-3.02 Review Questions

  2. 3.01 • What is Marketing? • What is Fashion Merchandising? • What is the marketing concept? • What is a target market? • What is market segmentation? • What are the 4 ways in which a market is segmented? • Geographic, Demographic, Psychographic, Behavioral

  3. 3.01 • What are the 4 elements of the marketing mix? • price, product, place, promotion • What are the 7 functions of marketing? • Distribution • Financing • Marketing Information Management • Pricing • Product/Service Management • Promotion • Selling

  4. 3.01 • Nike’s new advertising includes listing the physical benefits a customer will get by using Nike products. Nike is segmenting the market based on? • Geographic Segmentation • Demographic Segmentation • Psychographic Segmentation • Behavioral Segmentation

  5. 3.01 • Michael Kors has decided to open up a new store in the Stonecrest shopping center. To announce this, Kors has a full page ad in the Charlotte Observer newspaper. Which type of segmentation is this? • Geographic • Demographic • Psychographic • Behavioral

  6. 3.01 • How will Lilly Pulitzer guarantee customer satisfaction of it’s clothing is a consideration of which element of the marketing mix? • Price • Product • Promotion • Place

  7. 3.01 • Belk has decided to sell only name brand clothing in its department stores. Based on this consideration, which element of the marketing mix has Belk answered? • Price • Product • Place • Promotion

  8. 3.01 • Hollister has hired five new employees for the Holiday Season to better help customers find the products that they are looking for. Which marketing function is Hollister improving? • Pricing • Financing • Selling • Product/Service Management

  9. 3.01 • Chik-fil-a has a customer satisfaction postcard available at the register to get feedback on the types of products its customers enjoy. Which marketing function is Chik-fil-a addressing? • Pricing • Selling • Distribution • Marketing Information Management

  10. 3.02 • Walgreens places items such as candy, gum, lighters, and magazines up front by the cash registers for customers to pickup as they pay for their order. What type of consumer goods are these items? • Shopping Goods • Specialty Goods • Convenience Goods • Industrial Goods

  11. 3.02 • At which stage of the business cycle would fashion retailers see a gradual increase in consumer purchases of fashion products? • Recession • Recovery • Depression • Recession

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