Chapter 18 -Flashacards

Front

Is a way of presenting your business

to your customers. It is one of the four main functions of a small business.

Back

Marketing

Front

Is a detailed guide with two primary parts:

• Marketing goals

• Strategies for reaching your goals

Back

Marketing Plan

Front

Every marketing plan has five main strategy areas, sometimes referred

to as the “Five P’s.” How a company chooses to combine these areas

is called its

Back

Marketing Mix

Front

The process you use to make potential customers

aware of your product or service and to influence them to buy it is

referred to as ______

Back

Promotion.

Front

This type of distribution is the most

limited of the three basic options.

Back

Exclusive Distribution

Front

The object of intensive distribution is to

make a product available at as many sales outlets as possible.

Back

Intensive Distribution

Front

Allowing a product to be sold at a moderate number of sales outlets, but not all, in a particular geographical

area is called

Back

Selective Distribution

Front

A pricing method that focuses on customer

demand—how much customers are willing to pay for a product—is

called

Back

Demand Based Pricing

Front

A pricing

method that focuses on what the competition charges is called

Back

competition based pricing

Front

Setting a product’s price based on what it

costs your business to provide it is called

Back

Cost based pricing