Chapter 13 Marketing in Today's World

consists of the four main elements of marketing

involves one or more intermediaries when distributing goods or services.

Gathering & studying info about consumers to determine what kinds of goods &services to produce

The process of creating, promoting,& presenting a product to meet the wants& needs of consumers

A group of customers who share common wants and needs & have the ability to purchase a product

is the process of creating promoting,&presenting a product to meet the want&needs of consumers.

finding and analyzing a specific group of consumer

You can use the same strategy to market a skateboard that you can use to market diamondearrings

building customer loyalty through good customer relations

Which step in developing a new product is used to introduce the product?

is the amount of money a company must make on a product to pay for the cost of producing it.

Which of the following sells goods directly to the customer?

consists of gathering and studying data about the buying habits of consumers

a go-between

businesses' need to know thier cutomers' wants and needs is called

Which functions of marketing involves moving goods from one place to the end user?

is when goods or services are sold directly to the consumer

A(n) ____buys large shipments of products and sells them in smaller batches to retailers.

making customers aware of a product

What is a business knowing what its customers' wants and needs called?

Which is NOT part of the marketing mix

a group of consumers who share common wants& needs,& who have the ability to purchase a product

Teenagers are an example of a target market.

consists of gathering and studying data about the buying habits of consumers

____is when goods are sold by the producer to the customer without using intermediaries.

____are facts about the population in terms of age, gender, location, income and education.

Generating ideas,test marketing a product,& evaluating customers' responses are different steps

buys large quantities of goods from manufacturers and resells them to other businesses

 a popular trend in today's marketing world that builds consumer loyalty through good relations

To successfully market a product, a company has to understand what people want to buy & buy it

A new product is introduced before it is test marketed.

the particular way a product is directed to consumers

sells goods to the final consumer for personal use

is the study of the population in terms of age, gender, income and education

Marketers have to figure out what price to charge for a product so the company makes a profit.

The amount of money a company has to make on a product to pay for its costs is called the______