What Function?
You take an on-line survey to enter for the chance to win a Macy's Gift Card
Marketing Information Management
Having a product where customers can buy it.
Place Utility
Economic benefits of marketing include lower prices, creation of new and improved products and______.
Added value (utility)
Tangible items that have monetary value
Goods
Explain the difference between a consumer and a customer
Customer-Buys Consumer-Uses
A designer decided to sell their handbags for $19.99 to create a discounted image
Pricing
Involves changing raw material or putting parts together to make them more useful.
Form Utility
Explain the difference between consumer market and industrial market.
personal use vs use in operations
All the people who share similar wants and needs and who have the ability to purchase a given product.
Market
Intangible items that have monetary value and satisfy the needs and wants of customers.
Services
Rachel Ray is on the View to talk about her new cookbook.
Promotion
The exchange of a product for some monetary value.
Possession Utility
Direct marketing includes email, mailers, phones calls and _______.
texts
The group identified for a specific marketing program
Target Market
Name the four components of the marketing mix
Product Place Price Promotion
A small boutique owner asks customers what time they prefer to shop
Marketing Information Management
Involves communication with the consumer.
Information Utility
Any form of communication used to inform, persuade or remind people about a company's products/services.
Promotion
Name an example of a service.
Answers may vary.
Alternative choices given up for something else.
opportunity cost
Special K decides their target market is diet conscious women between the ages of 25-65.
Market Planning
Having the product available at a certain time of the year or a convenient time of the day.
Time Utility
The process of deciding how to get goods in customers' hands
Channel Management
Percentage of the total sales volume generated by all companies that compete in a given market.
Market share
What is the marketing concept?
A company’s total efforts should be directed at satisfying customer needs and wants in order to earn profit THE customer is always right!