Product
The point at which total revenues or sales equal total costs
Break-Even Point
Deciding how much to charge for a product
Pricing
Ads that appear in a new browser window when you go to a web site
Pop-Up Ads
Getting the right product to the right customer in the right quantity in the right condition at the right place at the right time and the right price.
Logistics
The process of creating, promoting, and presenting a product or service to meet the needs and wants of customers
Marketing
A group of customers who share common wants and needs
Getting the money that is necessary for setting up and running a business
Financing
Any effort to inform, persuade or remind potential customers about a businesses product or service
Promotion
The process of getting goods and services to consumers
Distribution
When goods and services are sold through one or more intermediaries
Indirect Distribution
Determining the wants and needs of customers and providing them more effectively than competitors
Marketing Concept
Selling
Focusing on the people most likely to buy a company's goods and services
Target Marketing
Networks of companies that work together to coordinate their actions to deliver a product to market
Supply Chain Management
Mobile apps, couponing, location-based services, text messages, etc.
Mobile Marketing
The gathering and analysis of information on the size, location and makeup of a market
Market Research
Why is setting the right price important?
Status of the product/service
Ability of consumer to pay
Name one way to do market research.
Phone Calls
Focus Groups
Talking to people
Mailers
Online Surveys
A pathway to direct products to consumers
Channel of Distribution
What are the 4 P's of Marketing
Product, Price, Promotion, Place
Obtaining, developing, maintaining and improving product in response to the market
Product/Service Management
What is one question to ask when determining the price of a product (there are 3)
How much are customers willing to pay?
Is the price competitive with other products?
Can the company make a profit?
Name one source of demographics
Surveys
Sales Figures
Databases
Census
When goods and services are sold from the producer directly to the consumer
Direct Distribution
Ads that are displayed next to the content on a web page (banner ads)
Display Ads