1. Key Terms Unit 1 (Marketing 101)

2. The creation and maintenance of satisfying exchange relationships.#1
Marketing (official)
Review
The creation and maintenance of satisfying exchange relationships.
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3. #2
Utility
Review
The value a person gets from a product; by way of form, place, possession, and time.
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4. Marketing Concept Review #3
Using the needs of customers as the primary focus in creating/planning an effective marketing mix.
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5. #4
Marketing Mix
Review
All of the tools or activities a business uses to create a marketing strategy (4Ps).
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6. #5
Product
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Anything offered to a market to satisfy needs, including goods, services, and ideas.
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7. #6
Price
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The amount that customers pay, the methods of increasing value, & the making of profit.
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8. Providing conveniently located and timely availability of products.#7
Place
Review
Providing conveniently located and timely availability of products.
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9. #8
Promotion
Review
Communicating product information to customers in various ways (inform, remind, & persuade).
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10. The creation, design, and maintenance of products that have utility.#9
Product Development
Review
The creation, design, and maintenance of products that have utility.
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11. #10
Selling
Review
Process of trying to bring about an exchange of a product with a buyer for money.
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12. #11
Financing
Review
Budgeting for marketing activities and Assists customers with different methods of purchasing products.
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13. 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.
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14. Marketing Management Review #13
Planning & performance of activities to meet goals and measuring their progress.
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15. Someone who uses goods or services.
#14
Consumer
Review
Someone who uses goods or services.
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16. Someone who purchases goods or services.
#15
Customer
Review
Someone who purchases goods or services.
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17. Something you would like to have; not necessary.
#16
Want
Review
Something you would like to have; not necessary.
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18. Something you have to have; cannot survive without.
#17
Need
Review
Something you have to have; cannot survive without.
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19. Marketing (#1 unofficial)
#18
Marketing (#1 unofficial)
Review
Get the right product to the right place at the right time.
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20. Marketing (#2 unofficial)
#19
Marketing (#2 unofficial)
Review
Identify, understand, satisfy, and keep the customer.
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21. The End
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