Ch. 10

An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders

• Distribution
• Promotion
• Marketing
• Retailer

The locations and methods used to make a product or service available to the target market

• Distribution
• Promotion
• Marketing
• Retailer

a company’s plan that identifies how it will use marketing to achieve its goals

• Marketing Research
• Marketing Strategy
• Marketing Mix
• Marketing Orientation

a specific group of consumers who have similar wants and needs

• Effective communication
• Target Market
• Buying motives
• Channel of distribution

blending of four marketing elements: product, distribution, price, promotion

• Marketing Research
• Marketing Strategy
• Marketing Mix
• Marketing Orientation

considers the needs of customers when developing a marketing mix

• Marketing Research
• Marketing Strategy
• Marketing Mix
• Marketing Orientation

specific sequence of steps consumers follow to make a purchase

• Consumer decision making process
• Markdown
• Markup
• Price

The reasons consumers decide what products and services to purchase

• Effective communication
• Target Market
• Buying motives
• Channel of distribution

Finding solutions to problems through carefully designed studies involving consumers

• Marketing Research
• Marketing Strategy
• Marketing Mix
• Marketing Orientation

Everything a business offers to satisfy a customer’s needs

• Product
• Service