Market Types
convenient place where buyers and sellers can meet one on one to exchange goods and services
central markets
an approach that refers to how customers think about proposed and present brands in a market
positioning
provided when someone performs a task for someone else AND for instance when a bank handles financial transactions.
task utility
a time when families traded or sold their surplus output to local middlemen who resold these goods to other consumers or distant middlemen.
simple trade era
the basic forces that motivate a person to do something.
needs
trying to increase sales of a firm's present products in its present markets
market penetration
when consumers regularly select a particular way of satisfying a need when it occurs.
routinized response behavior
provided when someone produces something tangible.
form utility
a time when a company focuses on production of a few specific products and perhaps because few of these products are available in the market.
production era
needs that are learned during a person's life.
wants
trying to increase sales by selling present products in new markets
market development
when a consumer is willing to put some effort into deciding the best way to satisfy a need.
limited problem solving
having the product available when the customer wants it.
a time when a company emphasizes selling because of increased competition.
sales era
a strong stimulus that encourages action to reduce a need.
drive
trying to carry out the marketing concept that maintains a philosophy of customer satisfaction
market orientation
the type of problem solving consumers use for a completely new or important need and when they put much effort into deciding how to satisfy it.
extensive problem solving
having the product available where the customer wants it.
place utility
the current marketing era that emphasizes developing loyal customers.
relationship era
products, signs, ads, and other stimuli in the environment.
cues
the idea that an organization should aim all its efforts at satisfying its customers at a profit
marketing concept
the marketing mix is distinct from (unique from) and better than what's available from a competitor.
differentiation
obtaining a good or service and having the right to use or consume it.
possession utility
current day marketing that utilizes social media technology to develop markets through instant and frequent communications with targeted data base customer groups.
social media era
occurs in the learning process when a response is followed by satisfaction and a reduction in the drive.
reinforcement