Marketing: Selling and distributing products to create exchanges that satisfy customers.

Question 1

Marketing

Answer 1

Selling and distributing products to create exchanges that satisfy customers.

Question 2

The Marketing Concept

Answer 2

Striving to satisfy customers needs and wants while making a profit.

Question 3

Product

Answer 3

Goods, Service, or idea

Question 4

Goods

Answer 4

Tangible items that have monetary value

Question 5

Service

Answer 5

Intangible items that have monetary value

Question 6

Idea

Answer 6

Intellectual concepts that have monetary or intrinsic value

Question 7

Utility

Answer 7

To use

Question 8

Form Utility

Answer 8

Changes in raw materials

Question 9

Place Utility

Answer 9

Having product where customers can buy it.

Question 10

Time Utility

Answer 10

Having a product available at a certain time of year or day.

Question 11

Possession Utility

Answer 11

Exchange of product for money.

Question 12

Information Utility

Answer 12

Communication to the consumer about the product.

Question 13

Market

Answer 13

People with the same needs and wants who have the ability to buy.

Question 14

Consumer Market

Answer 14

Those who purchase for personal use.

Question 15

Organizational Market

Answer 15

Business who purchase products for use in their operations.

Question 16

Market Share

Answer 16

A company’s percentage of the total sales volume generated by all companies to a given market.

Question 17

Target Market

Answer 17

A group identified for a specific marketing program.