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MKT 101
Good vs Service
MKT Functions
Market Segmentation
SWOT Analysis
100
An activity and set of processes involved in creating, communicating, and delivering value to customers.
What is the definition of Marketing?
100
Can be either a good or a service, that has monetary value, and satisfies customer's needs and wants.
What is a product?
100
Product/service management, distribution, selling, marketing-information management, financing, promotion, pricing.
What are the seven functions of Marketing?
100
This includes anyone with the ability to make purchases (i.e. anyone who has money).
What is a mass market?
100
This is what SWOT stands for:
What is strengths, weaknesses, opportunities, threats?
200
Satisfying customer's wants and needs while making a profit.
What is the Marketing Concept?
200
Any tangible object that consumers can purchase to satisfy needs and wants.
What is a good?
200
This marketing function includes designing, developing, maintaining, and improving products or services so that they meet customer needs.
What is product/service management?
200
A group of individuals with similar characteristics causing them to have similar product needs.
What is a market segment?
200
This refers to positive attributes inside of a business.
What are strengths?
300
To create an exchange.
What is the purpose of Marketing?
300
An activity that is intangible, exchanged directly from producer to consumer, and consumed at the time of production.
What is a service?
300
The marketing function that required a business to determine the best way to get products or services to customers.
What is distribution?
300
Those customers whom your marketing strategies are meant to reach.
What is a target market?
300
This refers to factors in the external environment that may harm a business.
What are threats?
400
The exchange of goods and services through trade.
What is bartering?
400
Goods are NOT __________________, which means that they can be stored and possibly sold in the future.
What is perishable?
400
The marketing function that required the gathering & using of information about customers to improve business decision making.
What is market-information management?
400
There must be people or organizations with needs or wants & with the ability & willingness to buy.
What is the requirements to be considered a market? (A group that lacks either of these characteristics is not a market.)
400
Factors in the external environment that may benefit the business.
What are opportunities?
500
Products, non-profit organizations, places, events, ideas, individuals.
What are things that can be marketed?
500
Service are _______________, which means that they are provided and consumed at the same time.
What is inseparable?
500
The marketing function that utilizes advertising & other forms of media to communicate info about products, services, images, & ideas.
What is promotion?
500
Demographic, geographic, psychographic, & behavioristic.
What are the four segmentation variables?
500
This refers to negative attributes inside of the business.
What are weaknesses?