Ch. 1: Marketing Is All Around Us

The activity, set of instructions, and processes for creating, communication, delivering, and exchanging offerings that have values for customers, clients, partners, and society at large.

• Marketing

• Goods

• Services

• Marketing mix

• Market

Tangible items that have monetary value and satisfy ones needs and wants

• Time utility

• Goods

• Marketing

• Services

• Marketing concept

intangible items that have monetary value that satisfies your needs and wants.

• Marketing

• Utility

• Goods

• Services

• Market

The idea that a business should strive to satisfy costumers' needs and wants while generating a profit for the business.

• Organization Market

• Consumer Market

• Marketing Concept

• Marketing

• Utility

An added value in economic terms; an attribute of goods or services that makes them capable of satisfying consumers' wants and needs.

• Market

• Form utility

• Marketing concept

• Place utility

• Utility

All people who share similar needs and wants and who have the ability to purchase a given product.

• Market share

• Consumer market

• Market

• Organizational market

• Marketing

Consumers who purchase goods and services for personal use.

• Organizational market

• Consumer market

• Marketing

• Target market

• Utility

Also known as business-to-business (B2B), this includes all businesses that buy product for the use in their operations.

• Marketing

• Place Utility

• Consumer market

• Organizational market

• Market share

A companies percentage of the total share volumes generated by all companies that compete in a given market.

• Customer profile

• Marketing mix

• Market share

• Target market

• Organizational market

The group of people most likely to become customers, identified for a specific marketing program.

• Target market

• Market share

• Marketing

• Consumer market

• Utility