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Marketing Exam 1 Review

Marketing Exam 1 Review - Marketing Exam 1 Review The M a...

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Marketing Exam 1 Review - The Marketing Concept *Evaluating, implementing *The process of creating, distributing, promoting, and pricing goods *Satisfying relationships *Delivering Value to customers *Customers are the focus - Marketing Mix *Product, Pricing, distribution, and promotion into a target market. *That a firm can control to meet the needs of customers within its target market *What type of element to use and in what amounts - Target Market *A specific group of customers on whom an organization focuses on *Can be a vast number or a relatively small group - Distribution *The ready, convenient, and timely availability of products *Need to be available at the right time, and convenient locations
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- Educate Consumers about Product Benefits - Price *Decisions and actions that establish pricing *Is important because customers are concerned about the value obtained in an exchange - Packaging *Enclosing or protecting products for distribution, storage, sale, and use - Promotion *The communication link between seller’s buyers for the purpose of influencing, informing, or persuading a potential buyers purchasing decision. - Exchange *The provision or transfer of goods, services, or ideas in return for something of value.
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