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19 Cards in this Set
- Front
- Back
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Goods
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tangible items that have monetary value to satisfy your needs and wants
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Services
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intangible items that have monetary value and satisfy your wants and needs
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Marketing
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process of planning, pricing, promoting, selling, and distributing ideas, goods, or services to satisfy customers
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Marketing Concept
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idea that a business should strive to satisfy customers' needs and wants while getting a profit
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Utility
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added value from the functions of marketing
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Form Utility
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changing raw materials to make them useful
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Place Utility
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having a product where customers can buy them
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Time Utility
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having a product available at a certain time of year or at a convenient time of day
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Possession Utility
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the exchange of a product for money
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Information Utility
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communication with the consumer
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Market
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people who share similar needs and wants and who have the ability to purchase the product
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Consumer Market
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consumers who purchase goods and services for personal use
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Industrial Market
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business-to-business market which includes all businesses that buy products for use in their operations
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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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group of people most likely to become customers
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Customer Profile
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info about target market, age, income level, ethnic background, occupation, etc
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Marketing Mix
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product, place, price, and promotion
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Marketing Essentials
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1. Business Law 2. Communications 3.Customer Relations 4.Economics 5.Emotional Intelligence 6. Entrepreneurship 7. Financial Analysis 8. HR Management 9. Info Management 10. Marketing 11. Operations 12. Professional Development 13. Strategic Management |
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