Marketing Vocab Review

Front

Marketing involves planning, pricing, promoting, selling, and distributing ideas, goods, or services to create exchanges that satisfy customers.

Back

Process of planning, pricing, promoting, selling, and distributing ideas, goods, or services to create exchanges that satisfy customers.

Front

Goods and Services

Back

Tangible and intangible items that satisfy needs and wants.

Front

Marketing Concept

Back

A business should satisfy customers' needs and wants while generating profit.

Front

Utility

Back

The added value of a product in economic terms (based on marketing functions).

Front

Market: All people who share similar needs and wants and can purchase a product.

Back

Market definition.

Front

Consumer Market

Back

consumers who purchase goods and services for personal use.

Front

Industrial Market

Back

Includes all businesses that buy products for their operations.

Front

Market Share

Back

A company's percentage of total sales volume generated by all companies in a given market.

Front

Target Market

Back

The group identified for a specific marketing program.

Front

Customer Profile: Lists info about target market (age, income, ethnicity, occupation, attitudes, lifestyle, geography).

Back

Lists information about the target market, such as age, income level, ethnic background, occupation, attitudes, lifestyle, and geographic residence.