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26
Marketing
12th Grade
09/20/2013

Additional Marketing Flashcards

 


 

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Term
Advertising
Definition
Any paid form of non-personal presentation of ideas, images, goods, or services
Term
Benefit
Definition
An advantage consumers receive from using a product
Term
Cost of Production
Definition
The total amount of money spent on costs of materials, labor, taxes, etc., to manufacture economic goods and services
Term
Credit
Definition
The arrangement by which businesses or individuals can purchase now and pay later
Term
Discount
Definition
A deduction from the price of goods
Term
Expenses
Definition
The money that a business spends
Term
Feature.
Definition
A fact or characteristic of the product
Term
GOal.
Definition
objective or want that you plan to fulfill
Term
Income
Definition
The money received by resource owners and by producers for supplying goods
and services to consumers
Term
Marketing Concept
Definition
A philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying consumer wants and needs while achieving company goals
Term
Marketing Mix
Definition
The combination of the four elements of marketing—product, place, promotion, and price
Term
Media
Definition
The message channels used by a seller to promote a good, service, or idea, e.g., radio, television, newspapers, magazines, Internet
Term
Personal Selling
Definition
The form of promotion that determines client needs and wants and
responds through planned, personalized communication that influences purchase decisions and enhances future business opportunities
Term
Place
Definition
Marketing element focusing on considerations in getting a selected product in
the right place at the right time
Term
Price
Definition
Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products
Term
Profit
Definition
Monetary reward a business owner receives for taking the risk involved in investing in a business
Term
Promotion
Definition
Marketing element referring to the various types of communications that marketers use to inform, persuade, or remind customers of their products
Term
Public Relations
Definition
A function of business designed to establish good relations between the business and the public
Term
Publicity
Definition
Any non-personal presentation of ideas, goods, or services that is not paid for by the company or individual that benefits from or is harmed by it
Term
Quality
Definition
The degree of excellence of a good or service—how good it is
Term
Resource
Definition
Any item that is used to produce goods and services
Term
Sales Promotion
Definition
Promotional activities other than advertising, personal selling, and publicity that stimulate customer purchases
Term
Strategies
Definition
Plans of action for achieving goals and objectives
Term
Tactics
Definition
Specific actions that will be used to carry out strategies
Term
Value
Definition
The amount of satisfaction a good or service will provide a customer
Term
Warranty
Definition
A promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected
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