What is the definition for Pricing?

Dictates how much to charge for goods in order to make a profit.

What is the definition for Time Utility?

Having the product available at a certain time.

What is the definition for Place?

Determines how and where a product will be distributed.

What is the definition for Information Utility?

having communication with the consumer.

What is the definition for Possession Utility?

the exchange of a product for some monetary value.

What is the definition for Marketing Mix?

Compromised of four different marketing strategies known as The Four P’s.

What is the definition for Place Utility?

having a product where customers can buy it.

What is the definition for Product?

Knowing how to appeal to customers.

What is the definition for Marketing?

process of promoting selling and delivering products to customers.

What is the definition for Selling?

Provides customers with the goods and services they want.

What is the definition for Promotion?

To inform potential customers about a business's product or services.

What is the definition for Form Utility?

changing raw material or putting parts together to make them more useful.

What is the definition for Marketing Information Management?

collecting, storing, and anyliszing data about customers, and competitors

What is the definition for Place?

Determines how and where a product will be distributed.

What is the definition for Exchange?

When two parties swap something of value. For something else of value.

What is the definition for Satisfy individual and organizational goals?

This is the key to modern marketing.

What is the definition for Target Market?

focusing decisions on a specific group of people you want to reach.

What is the definition for Price?

Should reflect what customers are willing and able to pay.

What is the definition for Market?

a group of people who want a product and have the ability to buy it.

What is the definition for Promotion?

Deals with how customers will be informed about changes to brand's products

What is the definition for Channel Management?

The way a product gets from the business to the customer.

What is the definition for Product Utility?

The value or satisfaction a customer gets from using a product.

What is the definition for Marketing Concept?

businesses must satisfy their customers needs in order to make a profit.

What is the definition for Product/Service Management?

improving a product or a product mix in response to market options.

What is the definition for Market Planning?

understanding concepts and strategies used to develop a specific audience.

What is the definition for Target Market?

Group of people identified as those most likely to become customers.

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Unit One Vocab Marketing- Josalyn Davis

29 termsStudBud Administration

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Questions 29

Answers

1
What is the definition for Pricing?
Dictates how much to charge for goods in order to make a profit.
Having the product available at a certain time.
Should reflect what customers are willing and able to pay.
Provides customers with the goods and services they want.
2
What is the definition for Time Utility?
Determines how and where a product will be distributed.
based on your target markets, lifestyles, and personality characteristics
A formal written document.
Having the product available at a certain time.
3
What is the definition for Place?
focusing marketing decisions on specific group of people you want to reach.
based on your target markets personal characteristics.
Promotion
Determines how and where a product will be distributed.
4
What is the definition for Information Utility?
having communication with the consumer.
Compromised of four different marketing strategies known as “The Four P’s.”
Based on where your target market lives.
5
What is the definition for Possession Utility?
the exchange of a product for some monetary value.
a group of people who want a product and have the ability to buy it.
focusing marketing decisions on specific group of people you want to reach
the benefits your target market expects to gain from products they purchase
6
What is the definition for Marketing Mix or Product Mix?
4 P's
This is the key to modern marketing.
7
What is the definition for Marketing Mix?
written document. Communicating the goals of a company.
Based on where your target market lives.
Compromised of four different marketing strategies known as The Four P’s.
based on your target markets personal characteristics.
8
What is the definition for Place Utility?
having a product where customers can buy it.
Uses the product.
9
What is the definition for Product?
Deals with how potential customers will be told about the new product.
Knowing how to appeal to customers.
10
What is the definition for Marketing?
process of promoting selling and delivering products to customers.
having a product where customers can buy it.
a group of people who want a product and have the ability to buy it.
the benefits your target market expects to gain from products they purchase
11
What is the definition for Selling?
Provides customers with the goods and services they want.
Uses the product.
businesses must satisfy their customers' needs in order to make a profit.
12
What is the definition for Promotion?
focusing marketing decisions on specific group of people you want to reach.
To inform potential customers about a business's product or services.
based on your target markets personal characteristics.
Determines how and where a product will be distributed.
13
What is the definition for Form Utility?
changing raw material or putting parts together to make them more useful.
Knowing how to appeal to potential customers.
is the exchange of a product for some monetary value.
14
What is the definition for Marketing Information Management?
Compromised of four different marketing strategies known as The Four P’s.
the exchange of a product for some monetary value.
collecting, storing, and anyliszing data about customers, and competitors
Group of people identified as those most likely to become customers.
15
What is the definition for Place?
Determines how and where a product will be distributed.
Buys the product.
16
What is the definition for Exchange?
Compromised of four different marketing strategies known as The Four P’s.
When two parties swap something of value. For something else of value.
changing raw material or putting parts together to make them more useful.
17
What is the definition for Satisfy individual and organizational goals?
means having communication with the consumer.
This is the key to modern marketing.
a group of people who want a product and have the ability to buy it.
18
What is the definition for Target Market?
group of people who want a product and have the ability to buy it.
focusing decisions on a specific group of people you want to reach.
19
What is the definition for Price?
A formal written document.
Should reflect what customers are willing and able to pay.
20
What is the definition for Market?
Compromised of four different marketing strategies known as The Four P’s.
a group of people who want a product and have the ability to buy it.
Should reflect what customers are willing and able to pay.
21
What is the definition for Promotion?
Deals with how customers will be informed about changes to brand's products
Communication to customers.
22
What is the definition for Channel Management?
changing raw material or putting parts together to make them more useful.
The way a product gets from the business to the customer.
21
23
What is the definition for Product Utility?
Having the product available at a certain time.
The value or satisfaction a customer gets from using a product.
24
What is the definition for Marketing Concept?
Knowing how to appeal to customers
businesses must satisfy their customers needs in order to make a profit.
25
What is the definition for Consumer?
Determines how and where a product will be distributed.
Buys the product.
Uses the product.
26
What is the definition for Product/Service Management?
A formal written document. Communicating the goals of a company.
Based on where your target market lives.
improving a product or a product mix in response to market options.
Determines how and where a product will be distributed.
27
What is the definition for Market Planning?
understanding concepts and strategies used to develop a specific audience.
improving a product or a product mix in response to market options
Dictates how much to charge for goods in order to make a profit.
To inform customers about a business's product or services.
28
What is the definition for Target Market?
Buys the product.
To inform potential customers about a business's product or services.
Group of people identified as those most likely to become customers.
Determines how and where a product will be distributed.
29
What is the definition for Customer?
Buys the product.
Analyzes.

Unit One Vocab Marketing- Josalyn Davis Flashcards | StudBud