Marketing Chapter 1

Goods are intangible items that have monetary value and satisfy your needs and wants

Is what is exchanged for the product.

refers to decisions about advertising, personal selling, sales promotions and publicity.

is obtaining, developing, maintaining, and improving a product or a product mix in response 

There are ________________foundation(s) of marketing?

involves changing raw materials or putting parts together to make them more useful.

Business (B-to-B) market includes all businesses that buy products for use in their operations.

Marketing is the process of planning, pricing, promoting, selling, & distributing ideas, goods

is the effort to inform, persuade, or remind potential customers about a business's products 

The functions of marketing add value to a product. This added value is called versailtity

Understanding the economics principles and concepts that are basic to marketing

means of getting the product into the consumer's hands.

Is getting the money that is necessary to pay for setting up and running a business

Provides customers with the goods and services they want

Marketing concept is the idea that a business should strive to satisfy customers' needs &wants 

Consists of consumers who purchase goods and services for personal use.

Understanding concepts and strategies needed for career exploration, development, and growth

involves communication with the consumer.

Is the process of deciding how to get goods in customers'hands.

Understanding the basics of business, management, that affect business decision making

The marketing mix includes three basic marketing strategies

People who have similar needs and wants and have the ability to purchase your product arecalled

Good business and marketing decisions rely on good information about customers, trends,products

involves having a product where customers can but it.

There are ___________functions of marketing?

The group that is identified for a specific marketing program is the

A company's market share is its % of the total sales volume generated by all in a given market.

is having a product available at a certain time of year or a convenient time of day

Understanding concepts, strategies, and systems needed to interact effectively with other

Services are intangible items that have monetary value and satisfy your needs and wants

decisions dictate how much to charge for goods and services in order to make a profit

how do you own the items you want.

Decisions begin with choosing what products to make and sell

To develop a clear picture of their target market, business create a