4.03 Key Terms

Question 1

Advertising

Answer 1

Any paid form of nonpersonal presentation of ideas, goods, or services

Question 2

Marketing

Answer 2

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

Question 3

personal selling

Answer 3

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

Question 4

place

Answer 4

Marketing element focusing on considerations in getting a selected product in the right place at the right time

Question 5

price

Answer 5

Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products

Question 6

product

Answer 6

Marketing element referring to what goods, services, or ideas a business will offer its customers

Question 7

promotion

Answer 7

A marketing function needed to communicate information about goods, services, images, and/or ideas to achieve a desired outcome

Question 8

publicity

Answer 8

Any nonpersonal presentation of ideas, goods, or services that is not paid for by the company or individual that benefits from or is harmed by it