Different contexts of marketing Flashcards
1
Q
What are services?
A
Intangible benefits purchased by customers that do not involve tangible ownership
2
Q
What are characteristics of services?
A
- Intangibility
- Perishability
- Heterogenity
- Inseparability
3
Q
What does heterogeneity mean in services?
A
Services are rarely the same
4
Q
What are the 7 p’s of marketing?
A
- Price
- Product
- Promotion
- Place
- People
- Physical evidence
- Process
5
Q
What is the goal of marketing?
A
Long term satisfaction of customers is associated with creation and retention of customers
6
Q
What is relationship marketing?
A
Process of creating, maintaining and enhancing strong relationships with customers and other stakeholders
7
Q
What is a marketing database?
A
an electronic filing cabinet
8
Q
Why do firms go international?
A
- Domestic market saturation
- Increasing world competition
- Low cost foreign markets
