The Basics
A series of tasks performed for a customer.
What are services?
The process of creating a product in response to market opportunities.
That is product planning?
Making or producing things
What is form utility?
Christmas season, Valentine’s Day or stores staying open late in order to attract customers who work during the day.
What is an example of time utility?
Determining the need for and availability of financial resources to aid in marketing activities.
What is financing?
Goods and services.
What are products?
Gathering, recording, analyzing and disseminating information to aid in making marketing decisions.
What is Marketing Information Management?
Making a product available at the right time of year or a convenient time of day.
What is time utility?
Where the various types of food you eat everyday come from.
What is an example of place utility?
Provides the means for the exchange process.
What is marketing?
Material items you can touch.
What are Goods?
Obtaining goods and services for use in the operation of a business or for resale.
What is purchasing?
Usefulness added to the product through communication.
What is information utility?
How is wheat changed to a more useful product?
What is a form utility example?
Purchasing, Pricing, Product planning, Promotion, Marketing Information Management, Financing, and Distribution.
What are all of the functions of marketing?
Making or producing the correct good or service to add value to consumers everyday life.
What is Marketing?
The determination of an exchange price at which the buyer and seller perceive optimum value for a good or service.
What is pricing?
The product’s usefulness is increased because of its location.
What is place utility?
If the store offers credit cards or takes checks.
What is an example of possession utility?
The physical movement or the transfer of ownership of a good or service form the producer to the consumer.
What is distribution?
Takes place every time something is sold in the marketplace.
What is an exchange?
Communicates information about products, services, images or ideas to customers or clients to influence their purchase behavior.
What is promotion?
The ability to aid customers in owning goods.
What is possession utility?
Packages, labels, advertisements, displays, signs.
What is an example of form utility?
The usefulness of the produtct.
What is utility in marketing?