4.1 introduction to marketing

Question 1

market

Answer 1

any place, physical or virtual where buyers and sellers come together to exchange goods
- a place where buyers and sellers come together or interact
- a location
- a type of product

Question 2

market as a type of product

Answer 2

also refer to a market as a particular type of product that is being sold

Question 3

marketing

Answer 3

all the processes involved in identifying and satisfying customer needs

Question 4

marketing mix

Answer 4

The decisions of a business regarding its product, price, promotion, place, people, processes and physical evidence.