Marketing Principles: Unit 1 Marketing Concepts

How many factors are in the Marketing Mix?

What is this Logo Type?

What is this Logo Type?

Activity, set of instns & processes for creating,communicating,delivering & exchanging products

Name the Function: A company collects & analyzes sales data to determine buying trends

The idea that you must satisfy a customer's needs & wants in order to make a profit

Name the Function: A store employee meets you at the door to ask you what you are shopping for and helps you find it

Opportunities & threats are considered these type of factors:

Particular segment of a total population on which a business focuses its expertise

Name the Function: A business offers free layaway for customers during the holidays

What is this Logo Type?

What is this Logo Type?

A company gets complaints of having poor customer service

Products that aren't consumed or quickly disposed of, and can be used for several years

The desire for products or services that are not necessary, but which consumers wish for

Tangible items that have monetary value & satisfy your needs & wants

Name the Function: A company lowered their prices after a competitor started offering lower prices

A high school championship game is going to be played in town and they are looking for sponsors

Goods, services or information & ideas that are marketed

4 basic marketing startegies also called the 4P's: Product, Place, Price, Promotion

Name the Function: After only being a retail store for years, a company decided to offer online shopping

The purchaser of products or services

What is this Logo Type?

Products that are immediately used by a consumer or have an expected lifespan of 3 yrs or less

A restaurant has a trademarked flavor no one else can have

Due to a decline in the economy, customers' disposable income decreased

Plan of action for development, distribution, promotion, & pricing of products

Name the Function: A restaurant offers samples of a menu item they are trying to increase sales for.

The 4 categories for Market Segmentation are:

What is not part of the marketing mix?

Systematic collection & study to identify trends, forces & conditions that affect the business

The one who uses the product or service

Intangible products that have value to you such as banking, education, or medical treatment

What is this Logo Type?

Distribution, Financing, Pricing, Mktg Info Mgmt, Product/Service Mgmt, Promotion, Selling

What is this Logo Type?

What is an example of an intagible product?

Name the Function: A company decides to add a gel finger grip to the pencils they already are marketing

Strengths & weaknesses are considered these type of factors

Companies typically focus their marketing efforts on the specific _____________