4.1 The role of marketing Flashcards
1
Q
Marketing
A
The process of anticipating, identifying and satisfying the needs and desires of customers in a profitable way
2
Q
Services are unique from goods in four ways:
A
Intangible
Inseparable
Perishable
Variable
3
Q
Commercial marketing
A
The use of marketing strategies to meet the needs and wants of customers in a profitable way for the benefit of the owners of the business
4
Q
Social marketing
A
The marketing activities designed to influence the behaviour of the general public in order to benefit the wider community.
5
Q
Market share
A
The firm’s portion of the total value of sales revenue in a particular industry.
6
Q
Market share formula
A
Total sale of a particular business/ Total sales of the market * 100%
