Key Terms Unit 1 (Marketing 101)

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Presentation transcript:

Key Terms Unit 1 (Marketing 101)

The creation and maintenance of satisfying exchange relationships. #1 Marketing (official) Review The creation and maintenance of satisfying exchange relationships. MARK FOR REVIEW SHOW NEXT

#2 Utility Review The value a person gets from a product; by way of form, place, possession, and time. MARK FOR REVIEW SHOW NEXT

Marketing Concept Review #3 Using the needs of customers as the primary focus in creating/planning an effective marketing mix. MARK FOR REVIEW SHOW NEXT

#4 Marketing Mix Review All of the tools or activities a business uses to create a marketing strategy (4Ps). MARK FOR REVIEW SHOW NEXT

#5 Product Review Anything offered to a market to satisfy needs, including goods, services, and ideas. MARK FOR REVIEW SHOW NEXT

#6 Price Review The amount that customers pay, the methods of increasing value, & the making of profit. MARK FOR REVIEW SHOW NEXT

Providing conveniently located and timely availability of products. #7 Place Review Providing conveniently located and timely availability of products. MARK FOR REVIEW SHOW NEXT

#8 Promotion Review Communicating product information to customers in various ways (inform, remind, & persuade). MARK FOR REVIEW SHOW NEXT

The creation, design, and maintenance of products that have utility. #9 Product Development Review The creation, design, and maintenance of products that have utility. MARK FOR REVIEW SHOW NEXT

#10 Selling Review Process of trying to bring about an exchange of a product with a buyer for money. MARK FOR REVIEW SHOW NEXT

#11 Financing Review Budgeting for marketing activities and Assists customers with different methods of purchasing products. MARK FOR REVIEW SHOW NEXT

Get, manage, and use market info to improve business decision making. #12 Marketing Research Review Get, manage, and use market info to improve business decision making. MARK FOR REVIEW SHOW NEXT

Marketing Management Review #13 Planning & performance of activities to meet goals and measuring their progress. MARK FOR REVIEW SHOW NEXT

Someone who uses goods or services. #14 Consumer Review Someone who uses goods or services. MARK FOR REVIEW SHOW NEXT

Someone who purchases goods or services. #15 Customer Review Someone who purchases goods or services. MARK FOR REVIEW SHOW NEXT

Something you would like to have; not necessary. #16 Want Review Something you would like to have; not necessary. MARK FOR REVIEW SHOW NEXT

Something you have to have; cannot survive without. #17 Need Review Something you have to have; cannot survive without. MARK FOR REVIEW SHOW NEXT

Marketing (#1 unofficial) #18 Marketing (#1 unofficial) Review Get the right product to the right place at the right time. MARK FOR REVIEW SHOW NEXT

Marketing (#2 unofficial) #19 Marketing (#2 unofficial) Review Identify, understand, satisfy, and keep the customer. MARK FOR REVIEW SHOW NEXT

The End END REVIEW