Unit 1: Intro to Marketing Review

Idea: thought or opinion 

The study of how people seek to satisfy their needs and wants by making choices

Marketing 7 roles including distribution, financing, marketing information management, pricing, selling, and more.

The idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the goals

Which one would be considered an idea? 

Advertising differs from marketing, since advertising is...

Economics: The performance of a particular task in exchange for money

Processes for creating, communicating, delivering, offerings that have value for customers, clients, partners, & society

Any activity that seeks to provide goods and services to others while operating at a profit

Marketing differs from advertising because marketing is

A set of buyers sharing common needs or characteristics that the company decides to serve

The action or activity of gathering information about consumers' needs and preferences.

Good: A physical item that is produced and can be weighed or measured

Which one would be considered a service? 

A company's product sales as a percentage of total sales for that industry

Product: Anything that can be bought or sold

The set of tactical marketing tools - product, price, place, and promotion

The person who purchases the product is the...?