Vocabulary
What is the definition of a durable good
An item that last a long time
Marketing matches produces to
Consumers
What are the 4 ps in order
Product, price, place,promotion
Market Planning
Dividing the market into physical and social characteristics
demographic segmentation
What marketing strategy is used for everyone that use common products
mass marketing
What is an item that cannot be marketed
Hawaii
Holiday
Health
Hopefulness
Hopefulness
What are the two factors that determine the price
What marketing function helps you find out about target market
Marketing Information Management
What is a benefit of mass marketing
less time less resources
Dividing the total market into groups based on similarities
market segmentation
What is an example of marketing a service
- Finding out customers favorite coffee flavor
-Advertising the state of Michigan
-Offering a new improved cell phone
-Determining how much to charge for a haircut
Determining how much to charge for a haircut
What are two things that can be described in product according to our mind maps
size, color, material, ingredients, flavor, branding name,
What function involves two way communication between a buyer and seller
Selling
Dividing the market into location,cities,climates,and regions
geographic segmentation
What is another name for the 4 ps
the marketing mix
According to the marketing concept, which option shows company commitment?
Leaving marketing to the marketing department
Setting aside funds to research what customers want
Teaching marketing to college marketing students
Pricing a product to maximize profitability per item
Setting aside funds to research what customers want
What is another name for price
Channel Management
Distribution
What is one thing marketers figure out when partaking in channel management
How will it get there
Dividing the market intro groups based on attitudes and values
Psychographic segmentation
Company commitment, company goals in mind, and customer oriented are all apart of the?
Marketing Concept
Which of the following is a marketing activity Communicating with customers
Leading a project team
Balancing customer needs with wants
Lowering operational expenses
Communicating with customers
What are the three goals when companies promote
inform, persuade, remind
What are three way companies can promote
advertising
publicity
sales promotion
selling
What are the 4 subcategories in behavioral segmentation
rate of use
loyalty
occasion
benefits of derived