Mkt. & Pricing
Impacted by discounts, promotions, selling strategies, and external factors.
What is price?
Can be controlled by the company.
What is internal?
When supply exceeds demand
What is surplus?
providing easy availability of a good or service at the time when customers need or want it.
What is time utility?
person who buys the product
What is a customer?
cannot be controlled.
What is external?
When demand exceeds supply
What is shortage?
making products or services readily available to its customers.
What is place utility?
Aggregating process which clusters people with similar needs into market segments.
What is segmentation?
defined as positive character traits or skills that are considered positive.
What is strength?
When supply and demand are equal.
What is equilibrum?
Value derived from owning a product.
What is possession utility?
Business must satisfy needs and wants of their customer to compete.
What is marketing concept?
defined as character traits or skills that are considered negative or not as well developed.
What is weaknesses?
States price and demand move in the opposite economic direction.
What is The Law of Demand?
how much value a consumer receives from a product or service in a way that they need.
What is form utility?
The process of planning, pricing, promoting, selling and distributing goods or services which help satisfy a customer’s needs and wants.
What is marketing?
analyzes a businesses strengths, weaknesses, opportunities and threats.
What is SWOT analysis?
the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.
the attributes of a product which make it capable of satisfying a customer’s needs