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9 Cards in this Set

  • Front
  • Back
What is Marketing?
the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives
what is value?
relative comparison of a products benefits with its costs
what is the correlation between value and an individuals financial standing?
an individuals financial standing forces them to be selective and buy product with the best value
what is the correlation between value and market strategy?
a firms market strategy should appeal to emotional and physical benefits of a product in hopes of increasing its value
porducts provide consumers with utility, what is this?
ability of a product to satisfy a human good or need
what are the four kinds of utility marketing creats
time, place, ownership, and form
what is a consumer good? industrial good? Services?
a consumer good is a good purchased by consumers for personal use, an industrial good is goods purchased by companies to produce other products, a service is an intangible product
what is relationship marketing?
involves making a long lasting relationship between customers and suppliers
what is the external environment?
outside factors that influence marketing programs by posing opportunities or threats