Final Review Marketing 2017

Having a product available when the customer needs it

When businesses do not compete on price but on the location, product, etc...

the assistance provided by a company to those people who buy or use its products or services.

goods, services, and resources (such as capital) exceeds their consumption

Various careers in marketing

demand for a product or service exceeds its supply in a market

To inform, persuade, and to remind

Something that adds extra value to a product/good or service

When businesses compete for the same customers on similar products

Specific, Measurable, Attainable, Realistic, Timely

rivalry among sellers trying to achieve such goals as increasing profits,

Having your product at a location where customers can buy it

A group of people you are trying to reach to buy your goods or services

a person who owns their own business with the intent of making a profit

economy where products, prices, and services are determined by the market, not the government.

To take a chance

Getting necessary information out to the public

How a certain product gets from point A to point B to the end user

An association of marketing students- finance, hospitality, marketing

How a customer decides to pay for their products

types of non-wage compensation provided to employees in addition to their normal wages

Items that consist of shoes, t-shirts, TV's, IPads, IPhones

the act of providing funds for business activities, making purchases or investing

Product, Price, Place, Promotion

To change an existing product or to leave it the same based on your research

describes a consumer's desire and willingness to pay a price for a specific good or service.

How a customer or consumer decides to pay for a product

Goods and services that companies make available

thinking about the business in terms of customer needs and their satisfaction

amount of products available at a specific price

Using raw materials - lemons to make lemonade, assembling a bike

is the process whereby a business sets the decides what to sell its products for

Money left over after all expenses have been paid

to transfer (goods) to or render (services) for another in exchange for money;

Gathering information to find out about a product or a service

Something a customer cannot hold or touch

amount of goods that buyers wish to buy and the amount the sellers want to sell at that price.

The person who actually buys the product and uses the product