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marketing essentials
1 Graham
12
Marketing
12th Grade
10/02/2013

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Term
marketing
Definition
is the process of planning, pricing, promoting, selling, and distributing ideas, goods or service to create exchanges that satisfy customers
Term
goods
Definition
are tangible items that have monetary values and satisfy your needs and wants such as cars, toys, furniture, televisions clothing, and candy
Term
services
Definition
intangible items that have monetary values and satisfy you needs
Term
marketing concept
Definition
is the idea that a business should strive to satisfy customers needs and wants while generating a profit for the firm
Term
utility
Definition
utilities are the attributes of a product or service that make it capable of satisfying consumers needs and wants
Term
market
Definition
all people who share similar needs and wants and who have the ability to purchase a given product
Term
consumer market
Definition
consists of consumers who purchase goods and services for personal use
Term
industrial market
Definition
or business to business market includes all businesses that buy products for use in their operations
Term
market share
Definition
is its percentage of total sales volume generated by all companies that complete in a given market
Term
target market
Definition
the group that is identified for a specific marketing program
Term
customer profile
Definition
list information about the target market, such as age, income level, ethnic background, occupation, attitudes, lifestyle, and geographic residences.
Term
marketing mix
Definition
includes four basic marketing strategies called the four ps: product, price, place, and promotion
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