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Marketing chapter 1

Dylan Glover

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1.idea that business should strive to satisfy a customers need and wants while profiting
6.all people who share similar need and wants and who have the ability to purchase a given product
8.needed to support the marketing concept(channel management, 4 p's)
11.exchange of the product for money
14.gathering of information, storing it,and analyzing it.
19.intangible items that have monetary value and satisfy a need or want
21.lists information about the target market, ect age gender income levels
22.provides customers with the goods and service they want
23.is having a product or service available at a certain time of the year or convenient time of the day
1.activity,set of institution and processes for creating, communication, delivering and exchanging offerings that have value for customers,clients,partners and society at learge
2.involves communication with the consumer
3.added value to a product in economic terms
4.involves undetstanding the concepts and stragies used to develop and target specific marketing strategies to a select audicence
5.process of deciding how to get goods into customers hands by physically moving and storing goods as part of distribution planning
7.changing raw materials into usable good or putting parts together to make them more useful
9.politicians offer voters their platform or ideas
10.consist of consumers who purchase goods and service for personal use.
12.4 basics marketing strategies, product, place, price, promotion.
13.describes the percentage of the total sales volume generated by all companies that compete in a specific market
15.is a group of people most likely to become customers
16.involves having a product where customers can buy it
17.effort to infrom,persuade or remind current and potential customers about a business products or services
18.dicate how much to charge for good or service in order to make a profit
20.tangible items that have monetary value

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