the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large
What is marketing
100
giving up one thing in favor of another
What is trade-offs
100
anything of value that is owned
What is asset
100
The gathering, processing, reporting, and interpreting of market information
Informational, Primary, and Secondary Data
What is marketing research
100
how much you agree with a statement on a survey.
What is level of agreement question
200
the satisfaction of consumers wants and needs at a profit
What is What is the Marketing Concept
200
the cost of producing one more unit of a good.
What is marginal cost
200
recurring fluctuations in economic activity consisting of recession and recovery and growth and decline
What is business cycle
200
The division of a market into several smaller customer groups with similar needs
What is marketing segmentation
200
An attribute of a product or service that makes it capable of satisfying consumers' wants and needs.
What is utility
300
the idea that the social and economic justification for an organization's existence is the satisfaction of customers wants and needs while meeting organizational objectives
What is market concept
300
anything that is used to produce goods or services
What is resources
300
people born after WWII between 1946-1964
What is baby boomer
300
Dividing the market into smaller groups based on attitude, interests, values, and lifestyle
What is psychological segmentation
300
A company's percentage of total sales volume generated by all competition in a given market.
What is market share
400
Product
Price
Promotion
Place
What is 4 p's of marketing
400
the skills and knowledge gained by a worker through education and experience
What is human capital
400
the process of choosing which needs will be satisfied and how much of our resources we will use to satisfy them
What is allocation
400
Describes populations by identifying traits, such as age, income, gender, ethnic background, marital status, race, religion, and social class
What is demographic segmentation
400
The money left over from a consumer's income after paying for basic living necessities such as food, shelter, and clothing.
What is discretionary income
500
the doctrine that states that government generally should have little or no involvement in the marketplace
What is laissez faire
500
a system in which the central government makes all economic decisions
What is command economy
500
A defined contribution plan that automatically takes out money from an employee's paycheck before income taxes and invests it in mutual funds for purposes of retirement savings
What is 401k
500
Permanent goods and services, life expectancy of more than a year, purchased infrequently
What is capital items
500
Exclusive control over a product or the means of producing it.