markets test #1

markets test #1 - Book Terms Unit 1 E-marketers- marketers...

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Book Terms Unit 1 E-marketers- marketers who use e-commerce in their strategies Marketing- An organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customers relationships in way that benefit the organization and its stakeholders. Stakeholders- Buyers, sellers, investors in a company, community residents and even citizens of the nations where goods and services are made or sold- in other words any person or organization that has a ‘stake’ in the outcomes. Consumer- the ultimate user of a good or service. Marketing concept- A management orientation that focuses on identifying and satisfying consumer needs to ensure the organization’s long-term profitability Need- the recognition of any difference between a consumer’s actual state and some ideal or desired state Want- the desire to satisfy needs in specific ways that are culturally and socially influenced Benefit- the outcome sought by a customer that motivates buying behavior – that satisfies a need or want Demand- customers’ desire for products coupled with the resources to obtain them Market- all the customers and potential customers who share a common need that can be satisfied by a specific product, who have the resources to exchange for it, who are willing to make the exchange, and who have the authority to make the exchange Marketplace- any location or medium used to conduct an exchange Utility- the usefulness or benefit consumers receive from a product Exchange- the process by which some transfer of value occurs between a buyer and a seller Popular culture- the music, movies, sports, books, celebrities, and other forms of entertainment consumer by the mass market Myths- stories containing symbolic elements that express the shared emotions and ideals of a culture
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Product - a tangible good, service, idea, or some combination of these that satisfies consumer or business customer needs through the exchange process; a bundle of attributes including features, functions, benefits, and uses Consumer goods- the goods purchased by individual consumers for personal or family use Services- intangible products that are exchanged directly from the producer to the customer Business-to-business marketing- the marketing of those goods and services that business and organizational customers need to produce other goods and services, for resale or to support their operations Industrial goods- goods bought by individuals or organizations for further processing or for use in doing business Business cycle- the overall patterns of change in the economy- including periods of prosperity, recession, depression, and recovery- that affect consumer and business purchasing power. Competitive intelligence-
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markets test #1 - Book Terms Unit 1 E-marketers- marketers...

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