CheckPoint Marketing Concepts

CheckPoint Marketing Concepts - possession utility They all...

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Axia College Material Appendix B Marketing Concepts In your own words, define the following marketing concepts and provide a relevant real world example to accompany each definition. Concept Definition Example Need Is a function or substance that is a requirement. Like water and air, it is something that we must have to survive. Benefit Something that sells a product or service that gives extra perks. When a person flies so much they earn free upgrades and get to enjoy free adult beverages, and snacks. Exchange When a company or individual has a mutual agreement to bargain for what they want. Airtran Airlines in association with United, Frontier, Air Jamaica, etc. They exchange traveling privileges for their employees at a low fare. Marketplace A mutual point of contact between parties to conduct business. Like doing online shopping, it is a point of contact via online. Utility Is insuring that consumers get what they are expecting and looking for in the quality of a product or service. There is form, place, time, and
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Unformatted text preview: possession utility. They all work to provide value to a customer. Social Marketing Is basically saying that the customer is always right, in order to keep them coming back for more business, A customer can complain about bad service or being mistreated one time and threaten NEVER to come back and the business will do something as a courtesy in order, to satisfy the consumer. Goods and Services Good are the tangible things that we acquire and services the intangible things used, but not owned by us. Goods are items like clothes, shoes, houses, cars, etc. And services are things like getting your hair and nails done. Being served at a restaurant, getting your car washes. Value Is taking stock in something you believe in and putting it out there for others to believe in as well. Zaxby’s starting a franchise that others could believe in and sell to those who believed in what the owners saw of value. Course Number Course Number...
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