Marketing: Chapter 1

At the end of her one-week stay at a luxury hotel, Elena completed a form rating the hotel’s service and food

deciding how much to charge for goods and services

Retailers offer their customers installment or layaway plans 

What term is used to describe the process of selling a product in the marketplace

something a customer can touch or hold

During the last three months of the year, a grocery store stocks its shelves with plenty of canned pumpkin

Birthday Bears Inc. has just received an order for 1,000 units from Unique Gifts Shop.

developing, promoting, and distributing products in order to meet the needs/wants of customers

What does the owner of a miniature golf business provide her customers with

People who share similar wants and needs and who can purchase your products are called a market.

how you get the product to the customer

The functions of marketing add value to a product. 

Changing old glass bottles into beautiful new sculptures

Jon noticed that after two months, the new athletic shoes he ordered were not selling well so he decided to lower the $

"Buy one get one free” is an example of the distribution function of marketing. 

McDonald’s decided to locate their new restaurant on the south side of town due to the large amount of traffic

Selling camping gear through catalogs mailed to Boy Scout members and other outdoorsmen is an example of place utility

Decisions about offering customers payment options such as checks or credit are part of the pricing utility

informing, persuading, and reminding customers about a product

obtaining, developing, and improving a product

owners of Totally Outrageous Shoe Store decided to rent store space next to a music store where teenagers shop

determining the payment options to be offered to a business’s information customers

the value that a product/feature has

product, place, price, promotion

The skills and knowledge that are important for a marketing career include an ability to work well with others.

percentage of total sales volume generated by all companies that compete in a given industry

Which economic utility increased when Big Ed’s 24-Hour Diner recently began accepting VISA and Mastercard?