vocab

Question 1

one of the seven functions of marketing that you also find in the marketing mix.

Accepted Answer

pricing

Question 2

the effort to inform, persuade, or remind potential customers about a business’s products or services

Accepted Answer

Promotion

Question 3

four basic marketing strategies, collectively known as the “Four P’s.

Accepted Answer

marketing mix

Question 4

having a product where customers can buy it.

Accepted Answer

place utility

Question 5

market segmentation based on your target market’s personal characteristics.

Accepted Answer

Demographic Segmentation

Question 6

Knowing what product to make, how to package it, what brand name to use, and what image to project

Accepted Answer

product

Question 7

he attributes of a product or service that make it capable of satisfying consumers' wants and needs

Accepted Answer

utility

Question 8

the sum total of all the buyers and sellers in the area or region under consideration

Accepted Answer

market

Question 9

understanding the concepts and strategies used to target specific marketing strategies to a select audience.

Accepted Answer

Market Planning

Question 10

Marketing Mix

Accepted Answer

Promotion, Product, Price, Place

Question 11

formal written document communicating the goals, objectives, and strategies of a company.

Accepted Answer

marketing plan

Question 12

Good business and marketing decisions rely on good information about customers, trends, and competing products.

Accepted Answer

Marketing Information Management

Question 13

businesses must satisfy their customers' needs and wants in order to make a profit

Accepted Answer

marketing concept

Question 14

uses a product

Accepted Answer

comsumer

Question 15

how potential customers will be told about the new product, what the message will be, when & where it will be delivered

Accepted Answer

promotion

Question 16

market segmentation based on your target market’s lifestyles and personality characteristics.

Accepted Answer

Psychographic Segmentation

Question 17

market segmentation based on the benefits your target market expects to receive or gain from products they purchase.

Accepted Answer

Benefit Segmentation

Question 18

Having the product available at a certain time of the year or a convenient time of day is called

Accepted Answer

time utility

Question 19

Determines how and where a product will be distributed.

Accepted Answer

place

Question 20

the exchange of a product for some monetary value

Accepted Answer

posession utility

Question 21

market segmentation based on where your target market lives.

Accepted Answer

Geographic Segmentation

Question 22

analyzing a market by specific characteristics in order to create a target market.

Accepted Answer

Market Segmentation

Question 23

Should reflect what customers are willing and able to pay.

Accepted Answer

price

Question 24

focusing marketing decisions on a specific group of people you want to reach with your product.

Accepted Answer

target market

Question 25

a group of people identified as those most likely to become customers

Accepted Answer

Target Market

Question 26

provides a key link between creation of value and delivery of value to the customer.

Accepted Answer

Selling

Question 27

When two parties swap something of value for something else of value

Accepted Answer

Exchange

Question 28

purchases a product

Accepted Answer

customer

Question 29

obtaining, developing, and improving a product or a product mix in response to market opportunities.

Accepted Answer

Product/Service Management

Question 30

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

Accepted Answer

form utility

Question 31

Goal of marketing

Accepted Answer

Satisfy individual and organizational goals

vocab

Questions 31

vocab

Questions 31