Lecture 1 marketing philosophies Flashcards
1
Q
Marketing definition
A
Selling or promotion
2
Q
What is a market
A
Buyers who share a particular need or want that can be satisfied through exchanges and relationships
3
Q
What does a market consist of
A
Actual buyers & potential buyers
4
Q
Examples of a need
A
Communication, shelter
5
Q
What motivates customers
A
Needs, wants, demands
6
Q
What will satisfy needs & wants
A
Products & services
7
Q
What are the 4P’s in marketing
A
Product, promotion, pricing & place
8
Q
The goals of marketing
A
Maximize choice; consumption, quality of life
