Marketing Chapter 1

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

involves communication with the consumer.

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

Provides customers with the goods and services they want

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

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

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

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

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

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

There are ________________foundation(s) of marketing?

The marketing mix includes three basic marketing strategies

Decisions begin with choosing what products to make and sell

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

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

Is what is exchanged for the product.

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

how do you own the items you want.

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

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

Understanding the economics principles and concepts that are basic to marketing

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

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

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

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

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

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

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

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

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

There are ___________functions of marketing?

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

involves having a product where customers can but it.

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