Unit 1 Review Marketing

A group of potential customers with the ability and willingness to buy

This utility may come from labels, signs, salespeople or even advertisements

Changes materials into something useful, or combines materials

a formal analysis of your business internally and your position externally

Dividing a market into smaller groups with common characteristics

The basic marketing decisions all businesses make are referred to as

The person who purchases the product

Grouping customers with similar personal characteristics such age, gender, ethnicity, income

Which of the following is not a function of marketing?

The person who uses alters and/or disposes of a product

The difference between revenue (money in) and expenses (money spent)

Which of the following is NOT part of SWOT

Grouping customers with common lifestyles, values, attitudes and beliefs

Which of the following is the marketing mix

Dividing a market based on location

Adding value to a product by making it more useful is the economic term

Having products available when people want them-can be seasonal or time of day

Products sold to businesses to be used in production or operation of business (B to B)

Which is not part of P.E.S.T.

Facilitating the exchange of money for product (ex-having a cashier)