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Terms
Terms Continued
Marketing Functions
Marketing Concept
Changing Role of Marketing
100
Exchanging products or services with others by agreeing on their values without using money.
What is bartering?
100
The actual amount customers pay and the methods of increasing the value of the product to the customers.
What is Price?
100
Direct personal communication with prospective customers in order to assess needs and satisfy those needs with appropriate products and services.
What is Selling?
100
The first activity accomplished for successful use of marketing concept.
What is Identifying customers needs?
100
During this era, businesses placed an emphasis on advertising and convincing customers to buy a product.
What is Sales Era (1930-1940)?
200
The creation and maintenance of satisfying exchange relationships.
What is Marketing?
200
Anything offered to a market by the business to satisfy needs, including physical products, services, and ideas.
What is Product?
200
Determining the best methods and procedures to be used so prospective customers are able to locate, obtain and use the products or services.
What is distribution?
200

The second activity accomplished to successful implement the marketing concept.

What is develop and market products or services that customers consider better than other choices?

200
During this Era, the businesses placed an emphasis on satisfying customers' needs with a carefully developed marketing mix.
What is marketing Concept Era?
300

Not relying on others for the things you need to survive.

What is self-sufficient?

300
An approach to customer service that gives employees the authority to solve many customer problems.
What is employee empowerment?
300
Communicating information to prospective customers through advertising and other promotional methods to encourage them to make a purchase.
What is Promotion?
300
What is the third activity in implementing a marketing concept successfully?
What is operate a business profitably.
300
During this Era, businesses placed an emphasis on developing new marketing activities to sell products.
What is Marketing Department Era?
400
Using the needs of customers to as the primary focus during the planning, production, pricing, distribution and promotion of a product or service.
What is marketing concept?
400
Blending the 4 elements of marketing by the business.
What is marketing mix?
400
Assisting in the designing and development of products and services to meet the needs of prospective customers.
What is Product and Service Management?
400
The four P's of Marketing.
What is Product, Place, Price and Promotion?
400
In this Era, businesses placed an emphasis on producing and distributing new products.
What is Production Era?
500

Focus on developing loyal customers who continue to purchase from the business for a long period of time.

What is Relationship Marketing?

500

The business function that plans and manages financial resources and maintains records and information related to business's finances.

What is Accounting and Finance?

500
Providing security for products, personnel, and customers and reducing the risk associated with marketing decisions and activities.
What is Risk Management?
500

Merchandising falls under this function of business.

What is Production?

500

The five functions of BUSINESS.

What is Marketing, Production, Management, Accounting & Finance, and Operations?