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Test 5
Chapters 13-16
33
Business
05/01/2011

Additional Business Flashcards

 


 

Cards

Term
Marketing
Definition
Set of processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society
Term
Marketing Eras
Definition
Production, Selling Marketing Concept, and Customer Relationship
Term
Marketing Concept
Definition
A three part business concept: A customer Orientation, service orientation, and a profit orientation.
Term
Marketing Mix
Definition
The ingredients that go into a marketing program: price, place and promotion.
Term
Product
Definition
Any physical good, service, or idea that satisfies a want or need plus anything that would enhance the product in the eyes of consumers, such as brand
Term
Brand name
Definition
Something that differentiates one sellers goods and services from another
Term
Marketing research
Definition
The analysis of markets to determine opportunities and challenges, and to find the information needed to make good decisions
Term
Promotion
Definition
All the techniques sellers use to inform people about and motivate them to buy their products or services
Term
Consumer Market
Definition
All the individuals or households that want goods and services for personal consumption or use.
Term
Business to Business Market
Definition
All the individuals and organizations that want goods and services to use in producing other goods and services or to sell, rent or supply goods to others
Term
Primary Data
Definition
Data that you gather yourself(survey)
Term
Focus Group
Definition
A small group of people who meet under the direction of a discussion leader to communicate their opinions about an organization, its products, or other given issues.
Term
Secondary Data
Definition
Information that has already been complied by others and published in journals and books or made available online
Term
Value
Definition
Good quality at a fair price
Term
Brand
Definition
A name, symbol, or design, that identifies the goods or services of one seller or group of sellers and distinguishes them from competitors
Term
Trademark
Definition
A brand that has exclusive legal protection for both its brand name and its design.
Term
Product analysis
Definition
Making cost estimates sales forecasts to get a feeling profitability of new-product ideas
Term
Wholesaler
Definition
A marketing intermediary that sells to other organisms
Term
Retailer
Definition
An organization that sells to ultimate consumers
Term
Marketing Intermediaries
Definition
Organizations that assist in moving goods and services from producers to business and business to consumers
Term
Utility
Definition
In economy, the want satisfying ability or value that organizations add to goods or services.
Term
Time utility
Definition
Adding value to products by making them available when they're needed.
Term
Place Utility
Definition
Adding value to products by having them where people want them.
Term
Service Utility
Definition
Adding value by providing fast friendly service during and after the sale and by teaching customers how to best use products over time
Term
telemarketing
Definition
The sale of goods and services by telephone
Term
Logistics
Definition
The marketing activity that involve planning implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit
Term
Promotion Mix
Definition
The combination of promotional tools an organization uses
Term
Advertising
Definition
Paid nonpersonal communication through various media by organizations and individuals who are in some way identified in the advertising message.
Term
Channel of Distribution
Definition
Whole set of marketing intermediaries such as agents, brokers, wholesalers, and retailers that join together to transport and store goods in their path from producers to comsumers
Term
Product Line
Definition
A group of products that are physically similar or are intended for a similar market
Term
Product Mix
Definition
A combination of product lines offered by a manufacturer
Term
Product Differentiation
Definition
The creation of real or perceived product differences
Term
Prototype
Definition
A trial version of a product that serves as a model for potential development