| Marketing | The process of planning, pricing, promoting, selling, and distributing ideas, goods, or services to create exchanges that satisfy customers. |
| Goods | Tangible items that have monetary value and satisfy your needs and wants. |
| Services | Intangible items that have monetary value and satisfy your needs and wants. |
| Marketing Concept | The idea that a business should strive to satisfy customers' needs and wants while generating a profit for the firm. |
| Distribution | The process of deciding how to get goods in customers' hands. |
| Financing | Getting the money that is necessary to pay for setting up and running a business. |
| Marketing Information Management | Getting information about customers, trends, and competing products. |
| Pricing | Decisions on how much to charge for goods and services in order to make a profit. |
| Product/ Service Management | Obtaining, developing, maintaining, and improving a product or a product mix in response to market opportunities |
| Promotion | The effort to inform, persuade, or remind potential customers about a business's products or services. |
| Selling | Providing customers with the goods and services they want. |
| Customer Relationship Management | An aspect of marketing that combines customer information with customer service and marketing communications. |
| Utility | The adds value to a product. |
| Form Utility | Changing raw materials or putting parts together to make them more useful. |
| Place Utility | Having a product where customers can buy it. |
| Time Utility | Having a product available at a certain time of year or a convenient time of day. |
| Possession Utility | The exchange of a product for money. |
| Information Utility | Providing information to consumers. |
| Market | All people who share similar needs and wants and who have the ability to purchase a given product. |
| Consumer Market | Consumers who purchase goods and services for personal use. |
| Industrial Market | All businesses that buy products for use in their operations. (B2B) |
| Market Share | Percentage of the total sales volume generated by all companies that compete in a given market. |
| Target Market | The group that is identified for a specific marketing program. |
| Customer Profile | Lists information about the target market, such as age, income level;, ethnic background, etc. |
| Marketing Mix | Four basic marketing strategies called the four Ps: product, place, price, and promotion |
| Product | Choosing what product to make and sale, Including design and packaging. |
| Place | The means of getting the product into the consumer's hands. |
| Price | Strategies include determining list price as well as discounts and promotional pricing. |
| Promotion | Strategies deal with communicating about the product. |
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Is the process of planning pricing promoting selling and distributing ideas goods, or services?
DEFINITION: Marketing includes the process of planning, pricing, promoting, selling and distributing ideas, goods, or services to create exchanges that satisfy customers.
What is the process of promoting or persuading value to consumers to choose your product or service through advertising?
Persuasive advertising is a method of advertising that attempts to convince a consumer to purchase a product or service by appealing to their needs and desires. This advertising method attempts to frame products in a positive light and convince consumers about its benefits.
What are goods and services that have a monetary value and satisfy consumers needs and wants?
Goods are tangible items that have monetary value and satisfy customers' needs and wants. Examples of economic goods are cars, furniture, electronics, and clothing.
What is the action of promoting and selling products or services is called?
Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses.