Marketing Concepts

Includes how the goods and services are communicated to the customer.

Processes and methods used to gather, analyze, and report findings related to product use.

A retailer decided to mark down all swimsuits in August. Function?

Includes cost to make, marketing expenses, what consumers are will to pay.

Walmart uses its own trucks to distribute products to its stores. Function?

A retail store employee puts a pair of shoes on customer and asks how they feel. Function?

People who share similar needs and wants and have the ability to buy a product.

Group of people most likely to become customers, identified for a specific marketing program.

A television commercial stresses the benefits of buying a new protein bar. Function?

Businesses that buy products for use in their businesses.

Idea that states you must satisfy customers in order to make a profit.

Determining how much to budget for advertising. Function?

A company drops products that aren't selling well. Function?

Includes decisions about design, brand name, varieties, packaging

The process of developing, promoting, and distributing products.

Consumers who purchase goods and services for personal use.

Includes decisions about how and where to sell the product.

You are asked how well you like the new store layout. Function?