Products & Services
What are goods and services together called?
Products
What is marketing?
Making or producing the correct good or service to add value to customers' everyday life.
Which function involves obtaining goods and services for a business?
Purchasing
What marketing function involves creating a product?
Product Planning
What marketing function deals with financing resources?
Financing
What are material items that you can touch?
Goods
What does marketing connect businesses to?
Their customers
Purchasing can be done for business operations or for what other purpose?
Resale
Product Planning creates products in response to what?
Market Opportunities
Financing determines the need for and availability of what?
Financial resources
What are a series of tasks performed for a customer?
Services
What process happens every time something is sold in the marketplace?
An exchange
What marketing function determines an exchange price?
pricing
What function communicates information about products and services to customers'?
Promotion
Financial resources help businesses perform what?
Marketing Activities
Give an example of a good.
A shirt, phone, or car
What does marketing provide the means for?
Pricing tries to make the buyer and seller perceive what?
Optimum value for a good or service
What is one goal of promotion?
To influence customers' purchase behavior
What marketing function involves the physical movement of a good or service?
Distribution
What is the main purpose of making or producing the correct good or service?
To add value to customers' everyday lives.
What happens during an exchange?
Something is sold in the marketplace, transferring, a product or service between a seller or buyer.
If a business decides how much to charge for a product so both sides feel they are getting a good value, what function is it using.
Pricing
Promotion can communicate information about products, services, images, or what else?
Ideas
Distribution involves moving a product or transferring township from whom to whom?
From the producer to consumer