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9 Cards in this Set
- Front
- Back
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What is Marketing?
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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
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what is value?
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relative comparison of a products benefits with its costs
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what is the correlation between value and an individuals financial standing?
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an individuals financial standing forces them to be selective and buy product with the best value
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what is the correlation between value and market strategy?
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a firms market strategy should appeal to emotional and physical benefits of a product in hopes of increasing its value
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porducts provide consumers with utility, what is this?
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ability of a product to satisfy a human good or need
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what are the four kinds of utility marketing creats
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time, place, ownership, and form
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what is a consumer good? industrial good? Services?
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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
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what is relationship marketing?
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involves making a long lasting relationship between customers and suppliers
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what is the external environment?
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outside factors that influence marketing programs by posing opportunities or threats
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