Marketing Concepts Review

A particular group of consumers at which a product or service is aimed.

• bullseye
• market plan
• target market
• focus group

This is the marketing function that includes the process of deciding how to physically get the goods to the customers,

• financing
• selling
• management
• distribution

Getting the money that is necessary to pay for setting up and running a business; also includes decisions on the payment collection methods.

• financing
• selling
• distribution
• information management

The marketing function that includes obtaining, developing, maintaining, and improving a product/service in response to market opportunities.

• distribution
• product/service management
• selling
• marketing mix

The marketing function that includes the effort to inform, persuade, or remind potential customers about a business’s products or services. Also part of the marketing mix.

• pricing
• selling
• information management
• promotion

Changing raw materials into usable goods or putting parts together to make them more useful.

• form utility
• possession utility
• promotion utility
• place utility

Having a product where customers can buy it

• form utility
• place utility
• information utility
• time utility

Having a product or service available at a certain time of year or a convenient time of day.

• form utility
• place utility
• function utility
• time utility

The exchange of a product for money.

• form utility
• possession utility
• time utility
• selling utility

Communication with consumer.

• information utility
• form utility
• time utility
• promotion utility