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inviduals who purchase products to satisfy their needs and wants


common charateristics of a group, such as age range, marital status and gender

economic utility

the amount of satisfaction a person gets from using a particular good of service


a system of deciding what is right or wrong in a reasoned and impartial manner


the creation and maintenance of satisfying exchange relationships


the customers a business wants to serve and the location of those customers


the location and transportation used to make the product available for the customers


the actual amount customers pay and the methods of increasing the value of the product of the customer

marketing mix

combining the four marketing elements

form utility

taking wood and making wooden chairs to sell

place utility

finding the best location for and event or product to sell

time utility

putting items or events on the market at the right time

possession utility

making it easier for the customer to purchase the good or service such as paying online


the amount of a product that producers are willing and able to provide at a specific price


the quanity of a product consumers are willing and able to purchase at a specific price

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