Marketing
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners and society and large.
What is marketing?
The effort to inform, persuade or remind current and potential customers about a business' products or services.
What is promotion?
Is having a product or service available at a certain time of year or convenient time of day.
Whta is time utility?
All people who share similar needs and wants and who have the ability to purchase a given product.
What is a market?
Includes four basic marketing strategies called the four Ps.
What is the marketing mix?
The activities, strategies and technologies that companies use to manage their interactions with their current and potential customers.
What is Customer Relationship Management?
Decisions that dictate how much to charge for goods and services in order to make a profit.
What is pricing?
Involves having a product where customers can buy it.
What is place utility?
A company’s percentage of the total sales volume generated by all companies that compete in a given market.
Strategies about cost, competition and profitability.
What is price (strategy)?
The idea that a business should strive to satisfy customers’ needs and wants while generating a profit.
What is the marketing concept?
Getting the money needed to run a business; also includes offering credit to customers.
What is financing?
Involves communication with the consumer.
What is information utility?
The group that is identified for a specific marketing program.
What is a target market?
Strategies about packaging, brand name and image.
What is product (strategy)?
Ideas, goods and services.
What are offerings?
The process of deciding how to get goods into custoner's hands.
Changing raw materials into usable goods.
What is form utility?
Breaking down the market into smaller groups that have similar characteristics.
What is market segmentation?
Strategies about distribution and stores.
What is place (strategy)?
Interrelated activities that must work together to get goods and services from producers to customers.
What are the seven marketing core functions?
Providing customers with the goods and services they want; personalized communication?
The exchange of a product for money.
What is possession utility?
List of information about the target market?
What is a customer profile?
Strategies about the message and incentives to buy.
What is promotion (strategy)?