Marketing Concepts Flashcard

Front

Which concept uses the needs of customers as the primary focus during planning, production, distribution, and promotion?

Back

Marketing Concept

Front

What is the blending of product, price, distribution, and promotion used to reach a target market known as?

Back

Marketing Mix

Front

What is a plan that identifies how marketing goals will be achieved?

Back

Marketing Strategy

Front

What term describes the different products and services that a business sells?

Back

Product Mix

Front

What is the name, symbol, or design used to identify a product?

Back

Brand

Front

What is the primary focus of the marketing concept?

Back

Customer needs

Front

What is the term for creating an image for a product in the customer’s mind?

Back

Positioning

Front

What does ROI stand for in business terms?

Back

Return on Investment

Front

What is Demand-Based Pricing?

Back

Pricing based on customer willingness to pay

Front

What determines Cost-Based Pricing? Options: The retail price of an item, The wholesale cost of an item, The competitor's price, The demand for the product

Back

The wholesale cost of an item