Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/14

Click to flip

14 Cards in this Set

  • Front
  • Back
Four requirements for marketing to occur
2 or more parties
desire and ability to be satisfied
a way of communication
something to exchange
marketing
an organizational function and a set of processes for creating, commuinicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders
discovering and satisfying customer needs
focus on what the customer benefit is and learn from the past
4 p's
price
promotion
place (distribution)
product
five environmental factors
societal
environmental
regulatory
economic
technological
target market
one or more specific groups of potential customers toward which an organization directs its marketing programs
exchange
the trade of things of value between a buyer and seller so that each is better off after the trade
customer value
the unique combination of benefits received by target buyers that includes:
quality, price, convenience, on-time delivery, and before and after sale service
relationship marketing
linking the organization to its individual customers, employees, suppliers, and other partners for their mutual long term benefits
four eras of business
production
sales
marketing
customer
goods, ideas, services
good: physical object
ideas:
service: haircut, server
ultimate consumer
the people who use the goods and services purchased for a household
organizational buyers
manufacturers, wholesalers, retailers, and gov agencies, that buy goods and services for their own use or for resale
types of utility
form: product design, package
place:distribution, location
time: inv. management
possession: transactions