Marketing Vocab
A unique group of prospective customers a business wants to serve and their locations.
Market
Anything offered to a market by the business to satisfy customer needs, including physical products, services, and ideas.
Product
What are the 4 P's of marketing?
Price, promotion, place, product
The amount customers pay and the methods of increasing the value of the products to the customers.
Price
The action or business of promoting and selling products or services, including market research and advertising.
Marketing
List 4 types of companies Marketing affects?
manufacturers, retailers, businesses, government agencies, hospitals, law offices, schools, churches, etc.
The methods used and information communicated to encourage customers to purchase and to increase their satisfaction.
Promotion
Individuals who purchase products and services to satisfy needs.
Consumers
List 3 ways you can visually see Marketing?
on products, trucks, billboards, magazines, trains, airplanes, malls, online, etc.
Using the needs of customers as the primary focus during the planning, production, pricing, distribution, and promotion of a product or service.
Marketing concept
The management of large amounts of money, especially by governments or large companies.
Financing
Explain two examples of ways you would use strategic marketing with a business:
Answers will vary. At teacher's discretion.
The action or process of supplying goods to stores and other businesses that sell to consumers.
Distribution
The ongoing activities designed to support the primary function of a business and keep it operating efficiently.
Operations
List the four activities or components of marketing
Creating, communicating, delivering, exchanging