marketing 1
what is marketing?
Making or producing the correct good or service to add value to consumers everyday life.
what are services?
a series of tasks performed for a costumer.
what is time utility?
Making a product available at the right time of year or a convenient time of day
one reason to study marketing
to learn interpersonal skills
what does marketing provide
the means for an exchange process
what is it called when something is sold in the marketplace?
An exchange
what is utility?
the usefulness of a product
what is possession utility?
The ability to aid customers in owning goods
one reason to study marketing
to perfect communication skills
who teaches marketing
what are products
what is form utility?
making or producing things
what is information utility?
Usefulness added to the product through communication
name the five kinds of utility
form, place, time, possession, information
purchasing, pricing, product planning, marketing information management, promotion, financing, distribution
what are goods
material items you can touch
what is place utility?
The product’s usefulness is increased because of its location
one reason to study marketing
to understand business
what is marketing information management
Information Management
Gathering, recording, analyzing and disseminating information to aid in making marketing decisions.
what is financing
Determining the need for and availability of financial resources to aid in marketing activities.
what is purchasing
Obtaining goods and services for use in the operation of a business or for resale.
what is pricing
The determination of an exchange price at which the buyer and seller perceive optimum value for a good or service.
what is product planning
The process of creating a product in response to market opportunities.
what is promotion
Communicates information about products, services, images or ideas to customers or clients to influence their purchase behavior.
what is distribution
Determining the need for and availability of financial resources to aid in marketing activities.