Business Operations and Technology Vocab Review

is 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 functions

• Marketing

• Marketing mix

• Marketing stragtegy

is a specific group of consumers who have similar wants and needs.

• Target market

• Marketing mix

• Marketing strategy

• Business consumers

A company's plan that identifies how it will use marketing to achieve its goals.

• Marketing mix

• Target market

• Marketing

• Marketing strategy

is the blend of four marketing elements product, distribution, price, and promotion.

• Marketing mix

• Marketing strategy

• Marketing

• Target market

The specific sequence of steps consumers follow to make a purchase is known as the

• Marketing orientation

• Business consumers

• Consumer decision-making process

• Buying motives

A marketing orientation considers the needs of customers when developing a marketing mix.

• True

• False

are persons, companies, and organizations that buy products for operation of a business, for incorporation into other products and services.

• Business consumers

• Marketing orientation

• Final consumers

• Marketing consumers

The reasons consumers decide what products and services to purchase are called

• Business consumers

• Buying motives

• Buying concepts

• Target market

is everything a business offers to satisfy a customer's needs.

• Services

• Product

• Marketing research

• Promotion

Finding solutions to problems through carefully designed studies involving consumers.

• Marketing research

• Buying motives

• Consumer decision-making process

• Marketing strategy