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Chapter 10 Terms
Terms in this set (24)
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.
a company's plan that identifies how it will use marketing to achieve its goals.
a specific group of consumers that have similar wants and needs.
the blending of four marketing elements -- product, distribution, price, and promotion.
considers the needs of customers when developing a marketing mix.
persons who buy products and services mostly for their own use.
persons, companies, and the organizations that buy products for the operation of a business, for incorporation into other products and services, or for resale to their customers.
Consumer Decision-Making Process
the specific steps consumers follow to make a purchase.
the reasons customers decide what products and services to purchase.
finding solutions to problems through carefully designed studies involving consumers.
everything a business offers to satisfy a customer's needs.
activities that are consumed at the same time they are produced.
has no physical form.
consumed at the same time the services are produced
the availability of a service must match the demand for that service at a specific time.
there will be differences in the type and quality of service provided.
the money a customer must pay for a product or service.
the locations and methods used to make a product or service available to the target market.
Channel of Distribution
the route a product follows and the businesses involved in moving a product from the producer to the final consumer.
the businesses that take part in a channel of distribution.
any form of communication used to inform, persuade, or remind.
the exchange of information so there is common understanding by all participants.
direct, individualized communication with prospective customers to asses their needs and assist them in satisfying those needs with appropriate products and services.
any paid form of communication through mass media directed at identified customers to provide information and influence their actions.
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