Marketing Essentials Unit 1 - Review of Concepts

company's % of the total sales volume generated by all companies that compete in a market

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

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

intangible items that have monetary value and satisfy your needs and wants

determining how much to charge for goods and services in order to make a profit

all people who share similar needs & wants & who have the ability to purchase a given product

distribution; the process of deciding how to get goods into a customer's hands

having a product available at a certain time of year or a convenient time of day

idea that a business should satisfy customers' needs & wants while making a profit for a firm

obtaining, developing, maintaining & improving a product or product mix

marketing plays an important role in the economy because it provides means for __ to take place

form, place, time, possession, and information

Plan, price, promote, sell & distribute ideas, goods, or services that satisfy customers

gathering and analyzing information about customers, trends, and competing products

the 4 P's; product, place, promotion, price