marketing unit 1 test Flashcards
process of developing, promoting, and distributing products to satisfy customers needs and wants.
marketing
the consumer is at the core of all marketing activities (4 Ps)
Marketing Mix
What are the 4 Ps
Product
Promotion
Price
Place
satisfy the customers/consumer’s needs and wants while making a profit
Marketing concept
moving and handling a product on its way from producer to consumer
Distribution
the path a product takes from producer to consumer
Distribution Channel
product travels straight from producer to consumer no middlemen
Direct Distribution
middlemen are used to get the product from producer to consumer
Indirect Distribution
6 Members of the Distribution Channel
Producer
Wholesaler
Agent
Retailer
Distributor
Consumer
makes product
producer
buys and resells product
Wholesaler
never owns the product, brings the buyer and seller together
agent
sells to the ultimate user of the product
retailer
never owns product, but physically moves the product
distributor
final user
consumer
The Seven Steps of Selling
Prospecting
PreApproach
Approach
Sales Presentation
Handling Objections
The Close
The Follow-Up
locating potential customers
Prospecting
preparing to meet customer
Pre Approach
initial physical contact with customer
Approach
features and benefits
Sales Presentation
answering questions
Handling Objections
asking for the sale
the close up
contacting customer after sale
the follow up
an individual must satisfy lower level basic need before progressing on to meet higher level growth needs
Maslow’s Hierarchy of Needs
