PBMF: Chapter 10 Vocabulary Review

A specific group of customers that have similar wants and needs

• business consumers

• market research

• channel members

• target market

The route a product follows and the businesses involved in moving a product from the producer to the final consumer.

• perishable

• buying motives

• channel of distribution

• marketing orientation

Everything a business offers to satisfy a customer’s needs.

• heterogeneous

• marketing strategy

• distribution

• product

Direct, individualized communication with prospective customers to assess their needs and assist them in satisfying those needs with appropriate products and services.

• personal selling

• effective communication

• market research

• consumer decision-making process

The reasons consumers decide what products and services to purchase.

• price

• effective communication

• buying motives

• personal selling

A set of promotional activities designed to obtain sales in the retail setting.

• marketing

• advertising

• distribution

• merchandising

An approach that considers the needs of customers when developing a marketing mix.

Final Consumers-persons who buy products and services mostly for their own use.

• marketing orientation

• buying motives

• channel members

• distribution

The exchange of information so there is common understanding by all participants.

• intangible

• advertising

• effective communication

• promotion

The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

• marketing strategy

• marketing

• buying motives

• consumer decision-making process

Something that has no physical form.

• inseparable

• advertising

• marketing

• intangible