1. Marketing Functions Test Review
The Big Six
Marketing Functions Test Review

2. This is the function that involves deciding on the products that a business will produce or offer. It is important because a business must offer the products that customers want and need in order to be successful.
Answer: Product/Service Management

3. The ­­­­_____ function involves determining client needs and wants and responding through planned, personalized communication that influences purchase decisions and enhances future business opportunities. This is the function of actually providing customers with the products they want.
Answer: (Personal) Selling

4. This involves gathering, accessing, synthesizing, evaluating, and disseminating information.
Answer: Marketing Information Management

5. ______goals include the details necessary to make sure you don’t confuse them with other goals. They are purposely worded so that you know exactly what you will achieve. They are not “general ideas”.
Answer: Specific

6. Goals that are _____ have a set time limit
Goals that are _____ have a set time limit. You know when the goal begins, and you know when it ends. This means that you also know when to congratulate yourself for reaching it.
Answer: Time-Bound

7. _______goals are able to be reached. In other words, they are realistic. A goal to become company president in your first year on the job is not realistic.
Answer: Attainable

8. ______ goals can be quantified or counted in some way
______ goals can be quantified or counted in some way. They are expressed in terms of time, distance, dollars, etc.
Answer: Measurable

9. ESOMIE stands for Executive Summary, ___________,Objectives, Marketing Mix, Implementation, and Evaluation/Control.
Answer: Situational Analysis

10. SWOT stands for Strengths, Weaknesses, ________, and __________
Answer: Opportunities, Threats

11. A good salesperson knows that features are always followed by _________________.
Answer: Benefits

12. _________ is a specific group of consumers at which a company aims its products and services. These people are those who are most likely to buy from the company. They can (and should) be segmented as much as possible.
Answer: Target Market

13. A __________________, also known as USP, refers to the unique benefit exhibited by a company, service, product or brand that enables it to stand out from competitors.
Answer: Unique Selling Proposition

14. An environmental scan (PEST) is designed to assess the current environment that we live in and see what can help or hurt a company or product in terms of politics, the economy, socio-cultural trends, and ____________.
Answer: Technology

15. _________________ is a 1 -3 page review of a longer marketing plan
_________________ is a 1 -3 page review of a longer marketing plan. It is designed to provide an overview of the plan and entice people to read it in it’s entirety.
Answer: Executive Summary

16. What is the 6x6 rule?
Answer: Provide no more than 6 bullet points on each slide of a Power Point
presentation. Additionally, those points should contain 6 words or less.

17. This marketing function is responsible for moving, storing, locating, and/or transferring ownership of goods and services. The main goal is to move products from the producer to the consumer.
Answer: Distribution

18. The purpose of the ____________ function is to communicate information about goods, services, images, and/or ideas to achieve a desired outcome. It is designed to inform, persuade, or remind customers about a business and/or its products.
Answer: Promotion

19. The ______ function often involves deciding how much to charge for products so customers will want to buy it and businesses will make a profit.
Answer: Pricing

20. Remember that a logo should:
Be memorable
Have a good recall rate
Look good in black and white as well as color
Be timeless
A good tagline:
Is concise (5-8 words max)
Communicates your product’s benefit
Is simple yet memorable

21. In summary, what was the big 6 unit about?
It explained that marketing is the process of planning and executing
the conception, pricing, promotion, and distribution of ideas, goods, and
services to create exchanges that satisfy individual and organizational objectives.
The marketing objective of most businesses is to attract you, the target
customer, to the business. To achieve this objective, businesses coordinate
the six marketing functions, which are interrelated activities that must work
together to get goods and services from producers to consumers. The six
marketing functions are product/service management, marketing-information
management, pricing, distribution, promotion, and selling.
When developing a new product, brainstorm first and consider your current situation.
Establish S.M.A.R.T GOALS and try to create a product that provides a UNIQUE BENEFIT
that connects with your TARGET MARKET.
If you do this and promote it in the correct manner then you have a good shot
at being successful!

22. Additional Info
If a contestant on Shark Tank is asking for $150,000 in exchange for a 15% equity
share in her company, she is valuing her company at $___________________.
Answer: 1 million dollars (150,000 x .15 = 1,000,000)