Marketing Basics
The process of promoting and selling products
What is Marketing?
Which part of marketing includes how much a product costs?
What is Price?
What is the customer?
Product, Price, Place, Promotion
What are the 4 P's of marketing?
Decision that determines where a product is sold
Difference between needs and wants
Activities that show a products value and persuade customers to buy it
What is Promotion?
Why would a business lower prices on products?
What is market competition?
Target market
What is a specific group of customers that a business wants to reach?
Difference between marketing and sales
What is marketing builds awareness and interest, and sales involves direct contact with customers?
The kind of data that helps businesses make informed marketing decisions
What is market research data?
Why is it important to understand customer behavior?
What is to create products and services to meet the needs of the customer?
Key to success in the marketing concept
What is satisfying the customer's needs?
Give an example of how the marketing concept can lead to a change in business decisions
What is redesigning a product after customer complaints to meet their satisfaction/needs?
Is it possible for a business to build long term relationships with customers? If so, How?
What is Yes, by providing value, service, and meeting the customer's needs?