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Working the Big Six
MK001
21
Marketing
11th Grade
09/13/2013

Additional Marketing Flashcards

 


 

Cards

Term
1. Advertising
Definition
Any paid form of non-personal presentation of ideas, images, goods, or
services
Term
Brand
Definition
All the combined impressions and experiences associated with a particular
company, good, or service
Term
Channel management
Definition
A marketing function that involves identifying, selecting, monitoring,
and evaluating sales channels
Term
Channels of distribution
Definition
Paths, or routes, that goods or services take from the producer
to the ultimate consumer or industrial user
Term
Competition
Definition
The rivalry between two or more businesses to attract scarce customer dollars
Term
Demand
Definition
The quantity of a good or service that buyers are ready to buy at a given price
at a particular time
Term
Industrial user
Definition
A business that buys materials, services, or goods which will be used to
make other goods or which will be used in the operation of the company
Term
Marketing
Definition
The activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and
society at large
Term
Marketing functions
Definition
Interrelated activities that must work together to get goods and services from producers to customers
Term
Marketing-information management
Definition
A marketing function that involves gathering,
accessing, synthesizing, evaluating, and disseminating information to aid in business
decisions
Term
Marketing plan:
Definition
A set of procedures or strategies for attracting the target customer to a
business
Term
Marketing research
Definition
The systematic gathering, recording, and analyzing of data about a
specific issue, situation, or concern that affects a market
Term
Pricing
Definition
A marketing function that involves the determining and adjusting of prices to
maximize return and meet customers’ perceptions of value
Term
Private enterprise system
Definition
An economic system in which individuals and groups, rather than the government, own or control the means of production—the human and natural resources and capital goods used to produce goods and services; also known as free market economy, private profit system, market system, capitalistic system, or free enterprise system
Term
Product life cycle
Definition
The stages through which goods and services move from the time they are introduced on the market until they are taken off the market
Term
. Product/Service management
Definition
A marketing function that involves obtaining, developing,
maintaining, and improving a product or service mix in response to market opportunities
Term
Product/Service mix
Definition
The particular assortment of products that a business offers to meet the needs of its markets and its company goals
Term
. Profit
Definition
Monetary reward a business owner receives for taking the risk involved in investing
in a business; income left once all expenses are paid
Term
Promotion
Definition
: A marketing function needed to
communicate information about goods, services, images, and/or ideas to achieve a desired
outcome
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
Sales promotion
Definition
Promotional activities other than advertising, personal selling, and publicity that stimulate customer purchases
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