General Principles of Marketing

Front

What is marketing?

Back

the process of planning, pricing, promoting, selling, and distributing products to satisfy customers' needs and wants

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What is a good?

Back

Tangible items that have monetary value and satisfy your needs and wants.

Front

What is a service?

Back

Intangible items that have monetary value and satisfy your needs and wants

Front

What is a marketing concept?

Back

Idea that a business should strive to satisfy customer's needs and wants while generating a profit for the firm.

Front

What is a market?

Back

All people who share similar needs and wants and who have the ability to purchase a given product.

Front

Define utility:

Back

the attributes of a product or service that make it capable of satisfying consumers' wants and needs

Front

A consumer market consists of consumers who purchase goods and services for personal use.

Back

True

Front

Industrial market is that includes all businesses that buy products for use in their operations

Back

True

Front

A company's market share is its percentage of the total sales volume generated by all companies that compete in a given market.

Back

False

Front

What is a target market?

Back

a group that is identified for a specific marketing program