Chapter 2 Marketing Basics

Specific group of customers at whose needs a company will focus on satisfying.

The amount of money requested or exchanged for a product.

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

Element of product, price, place and promotion

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

The specific group of customers whose needs a company will focus on satisfying

A plan of action that consists of decisions made about each of the four P's for the product

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

Satisfying customers as the means of achieving profits

Communicating with potential customers to influence their buying

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

Item that helps persuade a customer to make a purchase, such as discounts and free products.

Type of promotion that focuses on creating a positive image of a company

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

Different routes products take from the producers to the customers.

Anything that can be bought and sold is a

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

Physical Item that can be touched