Four P's of Marketing
Terms in this set (51)
The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.
The process of planning and executing the _____________, ________, _________, and __________ of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.
The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy ________________ and ______________objectives.
Marketing links ______________ to the ____________ who buy their goods and services
Marketing Activities are known as the __ ___ or the _____________ _______.
The basis for marketing goals and actions
Who the customers are and what goods or services they need
Which goods or services to produce, provide, or sell
Setting a dollar amount to a product/service, keeping in mind customer's perception of value.
What must be balanced when setting price for a product?
Perception of value and business or selling firm's objectives
What is the ultimate goal of pricing?
Strike the right balance
Communicating with customers and capturing their attention about a good/service
What are the three key words of promotion?
Which steps to take to ensure a proper and timely delivery
Tangible products that are bought are known as...
Intangible deeds people do for you are known as...
What are the six types of marketed entities?
Based on the belief that all business activities should be aimed toward satisfying consumer wants and needs while achieving company goals
The most important person in any business is...
Find what customers want, and....
Do it their way
Make and price your product better than the ________________ __________.
Do everything with ________ in mind!
Free enterprise is an economic system in which individuals and groups, not the government, ___________________________________________________-the human resources and capital goods used to produce goods and services. In other words- the right to own and operate your own business.
own and control means of production
Free enterprise creates _____________, increasing product quality and business efficiency
Free enterprise promotes the use of natural resources, encouraging __________________ _________.
If marketing didn't exist, society would have difficulty linking __________ and _____________.
If marketing didn't exist, ____________, ____________ and ___________ would not exist.
competition, substitutes, alternatives
If marketing didn't exist, we would be forced to be _______-___________.
Marketing promotes responsible use of _____________ _________________.
Marketing encourages _________ between nations.
The process by which marketers ensure that products are distributed to customers efficiently and effectively.
How can Channel Management be described in one word?
Why is Channel Management important?
Gets products from producer to consumer and allows adequate supplies of product in the right place at the right time.
A function that involves gathering, accessing, synthesizing, evaluating, and disseminating information to aid in business decisions.
Marketing Information Management
What are the five aspects of MIM (Marketing Information Management)?
How can MIM ((Marketing Information Management) be described in a word?
Why is MIM (Marketing Information Management) important?
Gives businesses the ability to make informed decisions
A function that involves the determining and adjusting of prices to maximize return and meet customers' ____________________________.
Perception of value
In a word, Pricing can be described as...
A function that involves the determining and adjusting of prices to maximize return and meet customers' perception of value.
Marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities
Product Service Management
What does 4 aspects does Product Service Management include?
How can Product Service Management be described in two words?
Why is Product Service Management important?
Involves deciding on products a business will produce and offer
Why is Price important?
Affects how much a product will sell or profit
Communicate information about goods, services, images, and or ideas to achieve a desired outcome.
How can Promotion be described in a word?
Involves determining client needs and wants and responding through planned personalized communication that influences purchase decisions and enhances future business opportunities.
Involves determining client needs and wants and responding through planned ______________ __________________ that influences purchase decisions and enhances future business opportunities.
Selling can be described in a word as...
In Marketing, you can't forget these three essential things...
Have a sufficient product supply
Set competitive prices to attract customers.
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