Question

Match each word to its definition.
(Word bank: Product & Service Management, Financing, Pricing, Distribution, Marketing Information Management, Promotion, Selling)
Functions of Marketing Definitions:
A. Understanding the market in order to improve business and marketing
decision-making
B. The process of setting a price by taking into account how much money needs to
be made to finance the business as well as factors related to customer needs and
expectations
C. Communicating the value of the business’s products and services to customers
to create and increase demand for and purchase of the products and services
D. The design, development and maintenance of the products and services which
meet the wants and needs of customers
E. Getting products and services to the best place for customers to locate, obtain
and use them, as well as determining where products will be stored before
purchase
F. Directly communicating with customers to determine and satisfy their wants and
needs
G. Obtaining the funds needed to operate the business



Choose (Nike shoes, McDonald’s, iPhone, local business)

Answer 1

First match (word bank → definition):

A. Marketing Information Management — Understanding the market in order to improve business and marketing decision-making
B. Pricing — The process of setting a price by taking into account how much money needs to be made ...
C. Promotion — Communicating the value of the business’s products and services to customers to create and increase demand
D. Product & Service Management — The design, development and maintenance of the products and services which meet the wants and needs of customers
E. Distribution — Getting products and services to the best place for customers to locate, obtain and use them, and storing before purchase
F. Selling — Directly communicating with customers to determine and satisfy their wants and needs
G. Financing — Obtaining the funds needed to operate the business

Examples (choose from: Nike shoes, McDonald’s, iPhone, local business) — best-fit illustration for each function, with brief rationale:

A (Marketing Information Management) — iPhone (Apple uses extensive market research and data to guide product decisions)
B (Pricing) — Nike shoes (Nike uses strategic pricing and brand positioning to set product prices)
C (Promotion) — McDonald’s (heavy advertising, promotions and campaigns to drive demand)
D (Product & Service Management) — iPhone (Apple’s design, development and product updates are a clear example)
E (Distribution) — McDonald’s (location strategy, franchising and supply-chain make products easy to obtain)
F (Selling) — Local business (face‑to‑face selling and direct customer interaction are typical)
G (Financing) — Local business (local businesses commonly seek loans/investors to obtain operating funds)