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6 Cards in this Set
- Front
- Back
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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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exchange
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The trade of things of value between buyer and seller so that each is better off after the trade.
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Requirements for marketing to occur (4)
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1. two or more parties (individuals or organizations) with unsatisfied needs;
2. a desire and ability on their part to be satisfied; 3. a way for the parties to communicate; 4. something to exchange |
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Marketing focuses on _______ and _______ consumer needs.
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discovering; satisfying
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need versus want
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A _need_ occurs when a person feels physiologically deprived of basic necessities such as food, clothing, and shelter.
A _want_ is a felt need that is shaped by a person's knowledge, culture, and personality. |
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market
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Group of potential consumers, which is:
1. _people_ 2. with the _desire_ and 3. _ability_ to buy a specific product. |
