chapter 10 review Flashcards
is a two step process used to plan and market products
marketing strategy
direct individualized communication with prospective customers to assess their needs and assist them in satisfying those needs with appropriate products and services
personal selling
the locations and methods used to make a product or service available to the target market
distribution
What are the 7 marketing functions?
- product and service management
- distribution
- selling
- marketing-information management
- financial analysis
- pricing
- promotion
the final business organization in an indirect channel of distribution for consumer products
retailer
_____ is 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
marketing
the exchange of information so there is common understanding by all participants
effective communication
____ promotion connumicates with many people at the same time with a common message
mass
the route a product follows and the businesses involved in moving a product from the producer to the final consumer
channel of distribution
finding solutions to problems through carfully designed studies involving consumers
marketing research
the specific sequence of steps consumers follow to make a purchase
consumer decision-making process
What are the two steps in a marketing strategy?
- first step is to identify a target market
- second step is to develop a marketing mix
_____ promotion communicates directly with each customer using info tailored to that person
personalized
the activity, set of institutions, and processes for creatng, communicating, delivering and exchanging offerings that have value for cutomers, clients, partners and society at large
marketing
What are the steps in the consumer decision making process?
- recognize a need
- gather info
- select and evaluate alternatives
- make a purchase decision
- determine the effectiveness of the decision