Marketing Principles Midterm Review - Fall 2016

Owner’s manuals, television ads, labels and salespeople provide what type of utility_.

Determination of exchange price which buyer/seller perceive optimum value for a good/service.

is responsible for the the safety of products such as toys, electronics, & household furniture.

The ability to purchase Nike shoes online is an example of ____________ utility.

_________ sets guidelines and enforces workplace safety and environmental concerns.

Cuba, North Korea, and China are examples of____________

Physical movement or transfer of ownership of a good/service from the producer to the consumer.

A formal, written document that directs a company’s activities for a specific period of time.

Decisions about advertising/personal selling/sales promotion used to attract potential customer

Obtaining, developing, maintaining, & improving a product in response to market opportunities.

Material items you can touch (tangible).

Government lets the people answer the three basic economic questions in what type of economy?

United States and Japan are examples of ______________

The four basic marketing strategies is called the _________________.

Difference between wants and needs and the resources available to meet these needs is called.

An analysis of outside influences that may have an impact on an organization.

Groups of customers that marketers have broken down into smaller, more precise clusters.

________ help move products from the producer or manufacturer to the final user.

A series of tasks performed for a customer .(Intangible)

The usefulness of a product (value added).

Gathering/recording/analyzing & disseminating information to aid in making marketing decisions.

Help a business identify weakness & prepare to handle threats competition/changing marketplace

What are the four factors of production?

A market that includes all businesses that buy products for use in their operation.

A car dealership offering a lease option instead of purchasing is an example of ______ utility

Using a single marketing strategy to reach all customers

__________ involves working at home.

Buy large quantities from manufacturers, store the goods, & resell them to other businesses.

Individuals who purchase goods and services for personal use.

Economic system where the government controls the factor of production & make all the decisions

One of the oldest nonprofit organizations to set up self-regulation among businesses.

The skills of the people willing to risk their time and money to run a business.

Which “P” of the marketing mix is directly related to distribution?

_______________ are guidelines for good behavior.

What are the four P’s of marketing?

Having holiday decorations available for consumers when needed is an example -____ utility

In ____________ companies make an effort to product and promote environmentally safe products

Developing, promoting, and distributing PRODUCTS in order to satisfy customers’ needs & wants.

_____________ regulates the labeling and safety of drugs, food, and cosmetics sold in the U.S.

The physical development of a country.

The path a product takes from the producer to the final user is called____________.

Determining the need for & availability of financial resources to aid in marketing activities.

Providing the customer with the goods and services they want.