Unit 1
Buying decisions begins mostly likely with what?
What is a need or want.
This term refers to the movement of funds into and out of a business...
What is cash flow.
________is 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
The way a person looks at life
What is Attitude?
This involves gathering, accessing, synthesizing, evaluating,
What is marketing-information management?
Individuals who buy for personal use are known in marketing as__________ _________
Who are final consumers
The sources of cash that flow into a business can include..
What is start-up money, sale of products and loans.
There are _____ number of marketing functions that are interrelated.
What is six marketing functions.
Sales forecasting that is based on the analysis of hard facts or numerical data.
What is quantitative forecasting?
This involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities
What is product service management?
These 2 main approaches to businesses take when sales forecasting is known as..
What is qualitative and quantitative forecasting.
These elements make up the overall picture of financial information.
What is credible, accurate, timely, comparable, understandable, transparent, reliable.
How much a customer enjoys a product is known as ________ _________, while how often a customer buys a product is known as __________ _________.
What is customer satisfaction and customer loyalty.
A financial statement that captures the financial condition of the business at that particular moment
What is a balance sheet?
This involves identifying, selecting, monitoring, and evaluating sales channels; it involves logistics.
What is channel management?
These elements are the 5 influences that most commonly affect a customer's buying behavior...
What are cultural, social, individual, psychological, and situational influences.
These documents individually assess various aspects of the strength and stability of a business...
What is an Income Statement, Balance Sheet, Cash Flow Statement, Profit & Loss Statement
The Marketing Mix consist of..
What is Price, Product, Place and Promotion?
A company’s worth according to the balance sheet; also called book value
What is net worth?
This involves communicating information about goods, services, images, and/or ideas to achieve a desired outcome.
What is promotion?
This document is a set of procedures or strategies for attracting the target customer to a business is known as a...
What is a marketing plan.
Sources of cash that flow out of business include:
what are operating expenses, rent/mortgage payment, utility costs, supplies, advertising, shipping/delivery expenses
These functions make marketing work efficiently.
What are channel management, marketing-information management, pricing, product/service management, promotion, and selling ?
The amount a lender charges a borrower for use of the money
What is interest?
This involves determining and adjusting prices to maximize return and meet customers’ perceptions of value.
What is pricing?