Marketing Principles And Practices

Front 1

Production

Back 1

Making goods or performing services.

Front 2

Customer Satisfaction

Back 2

The extent to which a firm fulfills a customer's needs, desires and expectations.

Front 3

Innovation

Back 3

The development and spread of new ideas, goods and services.

Front 4

Marketing

Back 4

The performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of needs satisfying, goods and services from producer to customer or client.

Front 5

Pure Subsistence Economy

Back 5

Each family unit produces everything it consumes.

No need to exchange goods and services and no marketing is involved.

Front 6

Macro-marketing

Back 6

Social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society.

Front 7

Economies of Scale

Back 7

Larger production of a particular product brings down the cost of each unit of the product.

Front 8

Universal Functions of Marketing

Back 8

Buying, selling, transporting, storing, standardization and grading, financing, risk taking and market information.

Front 9

Buying Function

Back 9

Looking for and evaluating goods and services.

Front 10

Sellin Function

Back 10

Promoting the product.Includes the use of personal selling, advertising and other direct and mass marketing and selling methods.