Chapter 2 Marketing Basics

The specific group of customers whose needs a company will focus on satisfying is the ___ of a business.

The marketing concept is

Money that a business has left after all the expenses and costs of running the business are paid.

Degree to which customers are pleased with a company's goods or services.

Gathering and analyzing information about markets, customers, industry trends, new technology, and competing business.

Type of promotion that focuses on creating a positive image of a company rather than the product.

Physical item that can be touched.

Plan of action for marketing a product; it consists of the decisions made about each of the four P's for the product.

Activities involved in getting a product or service to the end users, and is also known as distribution.

Concept, cause, issue, or philosophy that can be marketed.

Process of communicating with potential customers in an effort to influence their buying behavior.

Amount of money requested or exchanged for a product.

Handling activities involved in getting products through the different routes from the producers to the customers.

Anything that can be bought or sold.

Different routes products take from the producers to the customers.

Product, price, place and promotion are also known as what?

Item that helps persuade a customer to make a purchase, such as rewarding loyal customers with discounts or free product

Specific group of customers at whose needs a company will focus on satisfying with its products and services.

Element of product, price, place, and promotion.