Sports - Chapter 1 - The World of Marketing

The process of developing, promoting, & distributing products to satisfy customers wants & needs.

• merchandising

• marketing

• planning

• promotion

The idea that organizations need to satisfy their customers while also trying to reach their organization's goals.

• 4Ps

• blend

• production era

• marketing concept

Consists of potential customers with shared needs who have the desire and the ability to buy a product.

• sales force

• economy

• market

• demographics

Occur when people experience a lack of basic necessities such as food, clothing, or shelter.

• wants

• needs

• GDP

• profit

Things that people desire based on personality, experiences, or information.

• marketing mix

• needs

• competition

• wants

Specific group of consumers that an organization selects as the focus of it’s marketing plan.

• marketing mix

• demographics

• geographics

• target market

Statistics that describe a population in terms of personal characteristics.

• geographics

• behavioristics

• demographics

• psychographics

The 4 P’s – Price, Product, Place, & Promotion.

• marketing

• merchandising

• marketing mix

• promotional mix

The path a product takes from producer to consumer.

• pricing

• channel of distribution

• profit

• competition

The study of the choices and decisions that affect making, distributing, and using goods & services.

• economics

• supply & demand

• marketing

• market segmentation