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Marketing definition
Finding out what people want and getting it to them
Marketing info management definition
Collecting and using data to make marketing decisions
Starting position (chasier)
What is Economic Utility
The value added to a product by making it useful.
Possession Utility
Helping customers take ownership of products.
products,goods,services
Products:something sold to meet a need or want
Goods:Tangible items (shoes)
Services:Actions or activities (haircut)
pricing definition
Deciding how much to charge for products or services
What is Career Sustaining/Associate-to-Mid Level?
Mid-level roles (e.g., marketing assistant).
Types of Utility
Form Utility:
Place Utility
Time Utility:
Task Utility
Providing a service to make a task easier.
Exchange defintion
The act of giving something to get something else
Product/service management definition
Improving products and services over time
Marketing Specialist
Expert in a specific marketing area.
Time Utility:
Providing products when people need them.
4 P's of Marketing
Product: What you are selling.
Price: How much you charge.
Place: Where you sell it.
Promotion: How you tell people about it.
Distributation definition
How products get from producers to consumers
Activites to encourage the sale of products
Marketing Supervisor:
Oversees marketing team.
Place Utility
Making products available where people want them.
Financing definition
Getting the money needed to operate a business
selling definition
Direct interaction with customers to satisfy their needs
Management/Owner:
Leads entire marketing strategy or owns the business.
Form Utility
Changing a product to make it more useful.