Marketing Chapter 1

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

the idea that a business should strive to satisfy customers' while generating a profit

gathering information, storing it, and analyzing it are all part of...

a company's % of total sales volume generated by all companies that compete in a given market

the four basic marketing strategies called the four P's: product, place, price, and promotion

...provides customers with the goods and services they want

tangible items that have monetary value and satisfy one's needs and wants

the activity for sharing offerings that have values for customers, society at large, etc.

process of deciding how to get goods into customer's hands

the exchange of a product for money

intangible items that have monetary values and satisfy your needs and wants

information about the target market

the effort to informcurrent and potential customers about a business's products or services

an added value in economic terms

all people who share similar needs and wants, who have the ability to purchase a given product

consumers who purchase goods and services for personal use

involves having a product where customers can buy it

this includes all businesses that buy products for use in their operations

the group of people most likely to become customers, identified for specific marketing

understanding the concepts used to develop specific marketing strategies to select an audience

involves changing materials into usable goods & putting parts together to make them more useful

involves communication with the consumer

obtaining, developing, etc. a product or product mix in response to market opportunities

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