Shared Flashcard Set

Details

Chapter 1
Marketing Today
22
Marketing
10th Grade
01/14/2013

Additional Marketing Flashcards

 


 

Cards

Term
Marketing
Definition
The creation and maintenance of satisfying exchange relationships.
Term
Marketing Concepts
Definition
Using the needs of customers as the primary focus during planning, production, distriution, and promotion of a product or service.
Term
Market
Definition
The prospective customers a business wants to service and the loation of those customers.
Term
Marketing Mix
Definition
Blending of the four marketing elements (production, distribution, price, and promotion) by the business.
Term
Product
Definition
Anyting offered to a market by the business to satisgy needs, including physical products, services, and ideas.
Term
Distribution
Definition
The locations and methods used to make the product avaliable to customers
Term
Price
Definition
The actual amount customers pay and the methoss of increasing the value of the product to the customers.
Term
Pomotion
Definition
The methods and infromation communicated to customers to encourage purchases and increase their satisfaction.
Term
Self-Sufficient
Definition
Characteristic of not relying on others for the things needed in order to survive.
Term
Bartering
Definition
Exchanging products or services with others by agreeing to their values without using money.
Term
Specialization of labor
Definition
Concentrating on one or a few related activities so that they can be completed very well.
Term
Money System
Definition
Tool that established the use of currency as a recognized medium of exchange.
Term
Pricing
Definition
Establishing and communicating the value of products and service to prospective customers.
Term
Product/Service Management
Definition
Marketing function that deals with assisting in the design and development of products and services that will meet the needs of prospective customers.
Term
Selling
Definition
Marketing functions that involves using direct, personal communications with prospective customers in order to assess needs and satisfy those needs with appropriate products and services.
Term
Marketing-information Management
Definition
Marketing function that involves obtaining, managing, and using market information to improve decision making and the performance of marketing activities.
Term
Financing
Definition
The marketing function that involves budgeting for marketing activities, obtaining the necessary financing, and providing financial assistance to customers to assist them with purchasing the organization's products and services.
Term
Promotion
Definition
The marketing function that involves communicating information to prospective customers through advertising and other promotional methods to encourage them to purchase the organization's products and services.
Term
Production
Definition
The business function that describes creating or obtaining products and services for sale.
Term
Operations
Definition
The business function that describes the ongoing activities designed to support the primary function of a business and to keep a business operating efficiently.
Term
Accounting and Finance
Definition
The business function that describes planning and managing financial resources and maintining records and information related to businesses' finances.
Term
Management and Administration
Definition
The business function that involves developing, implementing, and evaluating the plans and activites of a business.
Supporting users have an ad free experience!