Marketing Test

Communication

Getting those offerings to the consumer in a way that optimizes value.

Products a customer buys when they have to solve a problem, These are products consumers have no knowledge of

Products in with low growth with low market share

The main goal during the ______________ was simply to sell as many units as possible.

Last stage of the product life cycle, profits are basically non-existent

Marketing is defined as __________ a company takes to promote goods or services in the global marketplace

Consumer Products and Business Products

The monetary amount charged for the product

Convenience Products, Shopping Products, Specialty Products, Unsought Products

Trading value for those offerings.

_________ is the amount of time a product is introduced in the marketplace until it’s removed from the shelves

This is the 1st stage; this is when the product first makes an appearance in the marketplace

2^nd cycle/sales increase rapidly/profits reach a peak, then start to decline

The ________ focused on building long term relationships with individual customers to foster loyalty and repeat business

Creating, Communicating, Delivering, and Exchanging

The process of collaborating with suppliers and customers to create offerings that have value.

__________to customers, describing their offerings

Products in high growth markets with low market share

Sales start to decline and profits continue to fall, Competition is intense,

Products in low growth markets with high market share

Physical (tangible) items that you can touch (eg. Food, Clothes, Cars, etc.)

The __________ focused on the premise that a good quality product would simply sell itself

Goods/services (offerings)

Items which buyers spend a lot of time comparing prices, brands, warranties, Expensive, Not purchased frequently

Are intangible items you can’t touch (eg. Haircut, Car Wash, etc.)

Goods, services and ideas are types of ________

during this stage many similar products are on the market

The _________ focused on producing the right product for the right customer

•Getting the product to a point at which the customer can purchase it (delivering)

Stage when sales are zero, and profit is negative  due to high initial costs, Period of high costs/high risks

The _______ focused on companies to work for the benefit of both the consumer and society while still attaining a profit

_______ are goods or services that are sold to satisfy customers needs or wants

Products in high growth markets with high market share

Unique Items that buyers spend time to obtain the item, These purchases are planned, there are no alternatives

Relatively inexpensive, Buyers spend very little time comparing products or purchasing the product

Include concepts, philosophies (eg. Philosophies of churches, political parties, etc.)

Why do companies try to get rid of their dogs?

Four Components of Marketing