1.
4 marketing elements: promotion pricing, placement, distribution
2.
advertising: most know mass promotion
3.
basic product: - simplest form of a product
4.
consumer decision making process: 1)Recognize a need
2)Gather information
3)Select and evaluate altrernatives
4)Make a purchase decision
5)Determine the effectiveness of the decision
5.
distribution: the commercial activity of transporting and selling goods from a producer to a consumer
6.
Effective communication: (a) Sender- communication begins with
(b) Receiver- a person that receives the information
(c) Communication channel- the way information is transmitted to the receiver
(d) Encoding-preparing information to be communicated
(e) Decoding- receiver obtains the information and interprets if for understanding feedback- receiver responds to the sender
7.
emotional buying motives: reason to purchase vased on feelings beliefs and attitudes
8.
expirament: 1) - collect information by recording the actions of consumers rather than asking them questions
9.
financial analysis: - budgeting for marketing activities obtaining the necessary funds needed for operations and providing financial assistance to customers so they can purchase the business products and services
10.
focus group: small number of consumers take part in a group discussion
11.
heterogeneous: be differences in the type and quality of service provided
12.
idea screening: Evaluate ideas to determine which have the best chance to be successful
13.
inseparable: consumed at the time they are produced
14.
marketing: information management - obtaining managing and using market information to improve business decision making and the performance of marketing activities
15.
marketing activities: other than personal selling, advertising, and public relations- that stimulate consumer buying and dealer effectiveness
16.
marketing business: Individuals or groups that purchase a specific kind of product for resale, direct use in producing other products, or use in general daily operations.
-B2B market
-Same concepts as marketing to consumers but there are structural and behavioral differences
-Transactions between businesses tend to be much larger and complicated
17.
marketing functions: product/service management, distribution, selling, marketing-information management, pricing, promotion
18.
mass promotion: - communicates with many people the same time with a common message
19.
observations: - collect information by recording the actions of consumers rather than asking them questions
20.
options: customers are offered choices of features
21.
perishable: availability of a service must match the demand for that service at a specific time
22.
pricing: setting communication the value of products and services
23.
product features: additions and improvements to the basic product
24.
product planning: idea development, idea screening,strategy development,product and financial planning
25.
promotion: communicating information about products and services to potential customers
26.
public relations: ...
27.
publicity: ...
28.
rational buying motives: guided by facts and logic
29.
sales promotion: ...
30.
selling: communicating directly with potential customers to determine and satisfy their needs
31.
surveys: gather information from people using a carefully planned ser of questions
32.
TARGET MARKET: the targeting of certain groups of people such as toddlers adults teens and ect.
33.
types of research: surveys,Focus group, observations,expirament
