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Marketing Essentials

Scott Sprow

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2.Any effort to inform, persuade, or remind potential customers about a product or service
5.Pathway used to direct products to consumers
9.The point at which total revenues(sales) equal total costs(expenses) of developing and offering a product/service
13.Type of distribution where goods/services are sold directly to the customer
15.The division of a market for a product into groups of consumers who have the same needs and traits
16.Distribution that involves one or more intermediaries
17.The four basic marketing strategies:
1.Deciding on what to charge for products in order to turn a profit
3.The process of creating, promoting, and presenting a product or service to meet the wants and needs of consumers
4.7-step process where ideas are tested for viability
6.Gathering and analysis of information onthe size, location, and makeup of a market
7.Focusing on the people most likely to buy a product/service
8.Process of getting goods and services to customers
10.A group of customers who share common needs and wants
11.Facts about the population. Examples include age, gender, location, and income
12.Getting the money necessary for setting up and running a business
14.Offering a product in a limited market for a limited time

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