Marketing Chapter 1

Using marketing concepts and strategies to create an effective plan for targeted markets.

Time utility involves having a product available at a certain time of year or day.

tangible items

the added value of a product in economic terms

At the end of summer an office supply stocks pencils to increase the school supplies' _ utility

Completing an evaluation of a hotel's service and food is an example of what mkg core function?

The process of classifying customers by specific characteristics.

Employees of Home Depot show customers  how to use products.  What utility is this?

A marketing concept includes info such as age, income level, ethnic background, and geography.

Which is not an economic benefit of marketing?

percentage of total sales generated by competing companies

product, place, price, and promotion

businesses that buy products for use in their operations

Tim asked his mom to buy Coco Puffs after seeing a TV commercial. To what group does he belong?

When a product's demand and production increase, __ usually decreases.

providing customers with goods and services they want

Information about the target market such as age, gender, income level, marital status, etc.

The "buy one get one free" strategy is an example of distribution.

What does a miniature golf business provide to its customers?

deciding how goods get into customers' hands

planning, promoting, and distributing products

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

Shopping at Target and paying cash for your purchases is a marketing strategy called __.

Birthday Bears, Inc., received an order for 1,000 units from Unique Gifts.This is a __ market.

Which of the following utilities involves making products?

Transforming old glass bottles into new sculptures is an example of __ utility.

The effort to inform, persuade, or remind  potential customers about products or services

obtaining, developing, or improving a product

A market includes people who share similar needs and wants, and can purchase the products.

Which economic utility increased when fast food restaurants began accepting credit cards?

gathering, storing, and analyzing information to create a marketing plan for products

Selling exercise equipment through catalogs mailed to athletes is an example of place utility.

Informing, persuading, or reminding  potential customers about a good or service is called

Deciding how much to charge for goods and services

The idea that businesses should satisfy customer's needs and wants while generating a profit.

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

Combines  information, communication and service to serve customers as efficiently as possible.

To increase the __ utility of their products, some retailers offer layaway plans.