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Marketing Core Functions
Utilities
Marketing Mix
Vocab
Examples of Economic Utilities
100
effort to inform, persuade, or remind potential customers about a product or service
What is Promotion
100
changing raw materials or putting parts together to make them more useful
What is Form
100
choosing what porducts to make and sell
What is Product
100
tangible items that have monetary value
What is Goods
100
adding aloe to hand soap
What is Form Utility
200
providing customers with the goods and services they want
What is Selling
200
communications with the consumer
What is Information
200
what is exchanged for the product
What is Price
200
intangible items that have monetary value
What is Services
200
offering installment credit in the sale of appliances
What is Possession Utility
300
process of decididng how to get goods into customer's hands
What is Channel Management/Distribution
300
involves having a product where consumers can buy it
What is Place
300
activities related to advertising, personal selling, sales promotion and publicity
What is Promotion
300
idea that a business should stirve to satisfy customers' needs and wants
What is Marketing Concept
300
including a link to a company web site that explains how to return used laser printer cartridges
What is Information Utility
400
gathering information about customers, trends, and competing products
What is Marketing Information Management
400
exchange of a product for money
What is Possession
400
means of getting the product into the consumer's hands
What is Place
400
added value in economic terms
What is Utility
400
offering overnight delivery of candy and fresh flowers on Feb. 13th
What is Time Utility
500
understanding the concepts and strategies used to develop and target specific marketing strategies to a select audience
What is Market Planning
500
having a product available at a certain time of year or a convenient time of day
What is Time
500
the four P's
What is Marketing Mix
500
B-to-B
What is Industrial Market
500
a company web site offering the sale of its products directly to customers
What is Place Utility