Marketing
Goods and services are.....
products
Purchasing
Obtaining goods and services for use in the operation of a business or for resale.
Can the location of a product increase the value?
Yes The product’s usefulness is increased because of its location.
An item you can touch
Goods
Pricing
The determination of an exchange price at which the buyer and seller perceive optimum value for a good or service.
Does making a product available at the right time of year more convenient?
Yes (Ex. Christmas season, Valentine’s Day or stores staying open late in order to attract customers who work during the day)
What is a service
A series of tasks performed for a customer.
Product Planing
The process of creating a product in response to market opportunities
Possession Utility
The ability to aid customers in owning goods
What is an exchange?
An exchange takes place every time something is sold in the marketplace
Marketing Information Management
Gathering, recording, analyzing and disseminating information to aid in making marketing decisions.
Information Utility
Usefulness added to the product through communication
What is marketing?
Making or producing the correct good or service to add value to consumers everyday life.
Promotion
Communtion information about products, services, images or ideas to customers or clients to influence their purchase behavior.
Form Utility
Making or producing things