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MKT 101
Good vs Service
MKT Functions
MKT Segmentation
S.E.R. Category
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 the mass market?
100
Game of athletic skill.
What is a sport?
200
Satisfying customer's wants and needs while making a profit.
What is the Marketing Concept?
200
A tangible object that consumers can purchase to satisfy needs and wants.
What is a good?
200
This function involves designing, developing, maintaining, and improving products or services so that they meet customer needs.
What is product/service management?
200
Those customers whom your marketing strategies are meant to reach.
What is a target market?
200
Using sports to market products.
What is sports marketing?
300
The purpose of Marketing.
What is to create an exchange?
300
An intangible activity, exchanged directly from producer to consumer, and consumed at the time of production
What is a service?
300
This function is concerned with determining the best way to get products or services to customers.
What is distribution?
300
A group of individuals with similar characteristics causing them to have similar product needs.
What is a market segment?
300
What people are willing to spend their money and spare time viewing, rather than participating in. This may include attending sporting events, movies, circus, etc.
What is entertainment?
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
This function requires gathering & using information about customers to improve business decision making.
What is market-information management?
400
The process of dividing the market into subgroups of people (or organizations) sharing one or more characteristics causing them to have similar product needs.
What is market segmentation?
400
The goal of this type of marketing is to influence how people choose to spend their time and money.
What is entertainment marketing?
500
Products, non-profit organizations, places, events, ideas, individuals.
What are things that can be marketed?
500
Services are ____________, which means that the service is provided and consumed at the same time.
What is inseparable?
500
The marketing function that involves using advertising & other forms of media to communicate info about products, services, images, & ideas.
What is promotion?
500
In order to be considered one of these, there must be people or organizations with needs or wants & with the ability & willingness to buy.
What is a market? (A group that lacks either of these characteristics is not a market.)
500
Income that can be freely spent (i.e. money that is left after bills are paid & necessities purchased).
What is disposable income?