Unit 1 Review Mktg Jan. 2017

marketing plays an important role in the economy because it provides means for __ to take place

tangible items that have monetary value & satisfy your needs and wants

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

understanding the concepts & strategies used to develop & target specific marketing strategies

the effort to inform, persuade, or remind customers about a business's products or services

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

the 4 P's; product, place, promotion, price

providing customers w/ payment options such as cash, checks or credit cards (exchange of money)

a group of consumers identified for a specific marketing program

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

attributes of a product or service that make it capable of satisfying consumers' wants & needs

provides customers with the goods and services they want; includes retail and wholesale markets

aspect of marketing that combines customer info w/ customer service & marketing communications

that which can be touched

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

Having a product where customers can buy it

Plan, price, promote, sell & distribute ideas, goods, or services that satisfy customers

changing raw materials or putting parts together to make them more useful

the value added by communicating with the consumer

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