Marketing Functions and Utilities

Involves responding to consumer needs and wants through planned, personalized communications intended to influence purchase decisions.

• pricing
• promotion
• selling
• utility 

Involves determination of a price or an amount to charge a customer or client for a good or service

• pricing
• promotion
• selling
• utility 

The economic term for the functions of marketing that add value to a product.

• pricing
• promotion
• selling
• utility 

Communicates information about product, services, images, or ideas to customers or clients. It’s the effort to inform, persuade, or remind potential customers about a business’ product or services.

• pricing
• promotion
• selling
• utility 

Involves understanding the concepts and strategies used to develop and target specific marketing strategies to a select audience.

• channel management
• marketing planning
• marketing information mgmt
• product/service mgmt

Responsible for the physical movement or the transfer of ownership of a good or service from the producer to the consumer.

• channel management
• marketing planning
• marketing information mgmt
• product/service mgmt

Involves gathering, recording, analyzing, and disseminating information to aid in making marketing decisions

• channel management
• marketing planning
• marketing information mgmt
• product/service mgmt

Involves obtaining, developing, maintaining, and improving a product or product mix in response to market opportunities

• channel management
• marketing planning
• marketing information mgmt
• product/service mgmt

At the end of her one-week stay at a luxury hotel, Elena completed a form rating the hotel’s service, food, and accommodations. What is this an example of?

• information utility
• promotion
• product planning
• marketing research

During the last three months of the year, a grocery store stocks its shelves with plenty of canned pumpkin in order to increase the pumpkin’s _____ utility.

• place
• time
• information
• possession