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36 Cards in this Set

  • Front
  • Back
distribution channel
Path through which products--and legal ownership opf them--flow from producer to consumers or business users.
want-satisfying power of a good or service
time utility
Availability of a good or service when customers want to purchase it.
place utility
availability of a product in a location convenient for customers.
ownership utility
Orderly transfer of goods and services from the seller to the buyer
promotional mix
combination of personal and nonpersonal selling techniques designed to achieve promotional objectives.
Value of one nation's currency relative to the currencies of other countries.
marketing concept
companywide consumer orientation to promote long-run success.
product life cycle
four basic stages--introduction, growth, maturity, and decline-- through which a successful product progresses
marketing mix
blending the four elements of marketing strategy--product, distribution, promotion, and price--to satisfy chosen customer segments.
place marketing
attempt to attract people to a particular area, such as a city, state, or nation.
cause marketing
marketing that promotes a cause or social issue, such as the prevention of child abuse, antilittering efforts, and antismoking campaigns.
organization marketing
Marketing strategy that influences consumers to accept the goals of, recieve the services o, or contribute in some way to an organization.
event marketing
Marketing or sponsoring short-term events such as athletic competitions and cultural and charitable performances
person marketing
use of efforts designed to attract the attention, interest, and preference of a target market toward a person.
consumer products
Good or service, such as DVDs, shampoo, and dental care, that is purchased by end users.
target market
Group of people toward whom an organization markets its goods, services, or ideas with a strategy designed to satisfy their specific needs and preferences.
market segmentation
process of dividing a total market into several relatively homogenous groups.
capital item
1. long life
2. can't be depreciated
3. value to the business
Application of resources such as people and machinery to convert materials into finished goods and services.
bundle of physical, service, and symbolic attributes designed to enhance buyers' want satisfaction
name, term, sign, symbol, design, or some combination that identifies the products of one firm and differentiates them from competitors' offerings.
pulling strategy
promotional effort by a seller to stimulate demand among final users, who will then exert pressure on the distribution channel to carry the good or service, pulling it through the distribution channel.
pushing strategy
promotional effort by a seller to members of the distribution channel intended to stimulate personal selling of the good or service, thereby pushing it through the channel.
convenience item
Item the consumer seeks to purchase frequently, immediately, and with little effort.
skimming pricing
Pricing strategy that sets an intentionally high price relative to the prices of competing products.
penetration pricing
pricing strategy that sets a low price as a major marketing weapon.
business product
good or service pruchasedd to be used, either directly or indirectly, in the production of other goods for resale.
brand name
part of a brand consisitng of words or letters that form a name that identifies and distinguishes an offering from those of competitors.
marketing functions
1. analyzing market information
2. buying
3. selling
4. transportation
5. exchange
6. grading (standarization of grading)
7. financing
8. risk taking
shopping proudcts
item typically purchased only after the buyer has compared competing products in competing stores.
speciality products
item that a purchaser is willing to make a sepcial effort to obtian.
major capital items, such as new factories, heavy equpiment and machinery, and custom-made equipment. They are expensive and often involve buy and seller negotiations that may last for more than a year beofre a purchase actually is made.
expense items
Less costly products that are consumed within a year.
expense items used in a firm's daily operation that do not become part of the final product.
accessory equipment
includes capital itmes, they are usually less expensive and shorter lived than installations and involve dewer decision makers