E OBJ 3.01 Vocab

Advertising

• Any paid form of non-personal presentation of ideas, images, goods, or services

• An objective or want that you plan to fulfill

• A philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying consumer wants and needs while achieving company goals

• The combination of the four elements of marketing—product, place, promotion, and price.

Goal

• An objective or want that you plan to fulfill

• Plans of action for achieving goals and objectives

• Specific actions that will be used to carry out strategies

• The amount of satisfaction a good or service will provide a customer

Marketing concept

• A philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying consumer wants and needs while achieving company goals

• The combination of the four elements of marketing—product, place, promotion, and price

• Any paid form of non-personal presentation of ideas, images, goods, or services

• Marketing element referring to the various types of communications that marketers use to inform, persuade, or remind customers of their products

Marketing mix

• The combination of the four elements of marketing—product, place, promotion, and price.

• A philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying consumer wants and needs while achieving company goals

• Any paid form of non-personal presentation of ideas, images, goods, or services

• Marketing element referring to the various types of communications that marketers use to inform, persuade, or remind customers of their products

Place

• Marketing element focusing on considerations in getting a selected product in the right place at the right time

• Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products

• Monetary reward a business owner receives for taking the risk involved in investing in a business

• Marketing element referring to the various types of communications that marketers use to inform, persuade, or remind customers of their products

Price

• Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products

• Monetary reward a business owner receives for taking the risk involved in investing in a business

• Marketing element referring to the various types of communications that marketers use to inform, persuade, or remind customers of their products

• Marketing element focusing on considerations in getting a selected product in the right place at the right time

Profit

• Marketing element focusing on considerations in getting a selected product in the right place at the right time

• Monetary reward a business owner receives for taking the risk involved in investing in a business

• Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products

• Marketing element referring to the various types of communications that marketers use to inform, persuade, or remind customers of their products

Promotion

• Marketing element referring to the various types of communications that marketers use to inform, persuade, or remind customers of their products

• Monetary reward a business owner receives for taking the risk involved in investing in a business

• Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products

• Marketing element focusing on considerations in getting a selected product in the right place at the right time

Strategies

• Plans of action for achieving goals and objectives

• Specific actions that will be used to carry out strategies

• The amount of satisfaction a good or service will provide a customer

• An objective or want that you plan to fulfill

Tactics

• Specific actions that will be used to carry out strategies

• The amount of satisfaction a good or service will provide a customer

• Plans of action for achieving goals and objectives

• An objective or want that you plan to fulfill