Question

this marketing function involves setting and communicating the value of products and services.
financing
distribution
pricing
marketing - information management
what is the first step in the consumer decision - making process?
gather information
select alternatives
evaluate alternatives
recognize a need
a small number of consumers expressing opinions about a new product or service in a group discussion is a _.
target market
focus group
survey group
experimental group
the simplest form of a product is called the _.
basic product
brand name
product feature
option

Explanation:

• First Question: Pricing in marketing is about setting and communicating the value of products/services. Financing is about funds, distribution about getting products to customers, and marketing - information management about data.
• Second Question: The consumer decision - making process starts with recognizing a need. Only after that do they gather information, evaluate, and select alternatives.
• Third Question: A focus group is a small group of consumers discussing a new product/service. A target market is the broader group of potential customers, a survey group answers questionnaires (not necessarily in a discussion), and an experimental group is in a research - controlled setting.
• Fourth Question: The basic product is the simplest form. A brand name is an identifier, a product feature is a characteristic, and an option is a choice.

Answer:

1. pricing
2. recognize a need
3. focus group
4. basic product