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20 Cards in this Set

  • Front
  • Back
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.
The ability of a good or service to satisfy a human need.
Place Utility
Utility created by making a product available at a location where custoemrs wish to purchase it.
Possession Utility
Utility created by transferring title (or ownership) of a product to the buyer.
Marketing mix
a comobination of product, price, distribution,and promotion developed to satisfy a particular target market.
Target Marget
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.
Market segment
A group of individuals or organizatons within a market that share one or more common characteristics
Marketing Plan
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
Consumer buying behavior
the purchasing of products for personal or household use not for business purposes
Discretionary income
disposable income less savings and expenditures on food,clothing,and housing
Business to business or
Industrial Market
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.
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
Form Utility
Utility created by converting production inputs into finished products.
Time Utility
Utility created by making a product a vailable when customers wish ot purchase it.
Marketing concept
a business philosophy that involves the entire organization in the process of satisfying customers needs while achieving the organization's goals
Relationship Marketing
Developing mutually beneficial long-term partnerships with customers to enhance customer satisfaction and to stimulate long-term customer loyalty
Undifferentiated approach
directing a single marketing mix at the entire market for a particular product
Market segmentation
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.
Buying behavior
The decisions and actions of people involved in buying using products
Consumer Maket
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.