Business

Front 1

MARKETING

Back 1

The process of planning and executing the ocnception, pricing, promotion, and distribution of ideas,goods,and servcieces to create exchanges that sattisfy individual and organizational objectives.

Front 2

Utility

Back 2

The ability of a good or service to satisfy a human need.

Front 3

Place Utility

Back 3

Utility created by making a product available at a location where custoemrs wish to purchase it.

Front 4

Possession Utility

Back 4

Utility created by transferring title (or ownership) of a product to the buyer.

Front 5

Marketing mix

Back 5

a comobination of product, price, distribution,and promotion developed to satisfy a particular target market.

Front 6

Target Marget

Back 6

a group of individuals or organizations, or both, for which a frim develops and maintains a marketing mix sutiable for hte specific needs and preferences of that group.

Front 7

Market segment

Back 7

A group of individuals or organizatons within a market that share one or more common characteristics

Front 8

Marketing Plan

Back 8

a written docutment that specifies an organization's resources, objectives, strategy, and implementation and control efforts to be used in maketing a specific product or product group

Front 9

Consumer buying behavior

Back 9

the purchasing of products for personal or household use not for business purposes

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Discretionary income

Back 10

disposable income less savings and expenditures on food,clothing,and housing

Front 11

Business to business or
Industrial Market

Back 11

Grouped broadly into producer, reseller, governmental, institutional categories. These purchase specific kinds of products for use in making other products for resale or for day to day operations.

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Market

Back 12

a group of individuals or organizations, or both, that need products in a given category and hat have the ability, willingnesss, and authority to purchase such products

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Form Utility

Back 13

Utility created by converting production inputs into finished products.

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Time Utility

Back 14

Utility created by making a product a vailable when customers wish ot purchase it.

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Marketing concept

Back 15

a business philosophy that involves the entire organization in the process of satisfying customers needs while achieving the organization's goals

Front 16

Relationship Marketing

Back 16

Developing mutually beneficial long-term partnerships with customers to enhance customer satisfaction and to stimulate long-term customer loyalty

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Undifferentiated approach

Back 17

directing a single marketing mix at the entire market for a particular product

Front 18

Market segmentation

Back 18

The process of divign a maket into segments and directing a marketing mix at a particular segment or segments rather than at the total market.

Front 19

Buying behavior

Back 19

The decisions and actions of people involved in buying using products

Front 20

Consumer Maket

Back 20

Consists of purchasers and/or household members who intend to ocnsume or benefit from te purchases products and who do not buy products to make profits.