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12 Cards in this Set
- Front
- Back
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Marketing
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process of planning, pricing, promoting, selling, and distributing ideas, goods, services
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Goods
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tangible items that have monetary value and satisfy your needs and wants
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Services
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intangible items that have monetary value and satisfy your needs and wants
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Marketing concept
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idea that a business should strive to satisfy customers needs and wants while generating a profit for the firm
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Utility
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attributes of a product or service that makes it capable of satisfying consumers wants and needs
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Market
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people who share similar needs and wants and who have the ability to purchase a given product
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Consumer market
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consists of consumers who purchases goods and services for personal use
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Industrial market
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business-to-business market
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Market share
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percentage of the total sales volume generated by all companies that compete in a given market
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Target market
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specific marketing program
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Customer profile
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develop a clear picture of their target market
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Marketing mix
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includes four basic marketing strategies: product, place, price, promotion
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