S&E Marketing Chapter 1

____ is defined as the process of developing, promoting, and distributing products, goods, or services.

• demographics

• marketing

• marketing concept

• channels of distribution

The _____ is the idea that organizations need to satisfy their customers while also trying to reach their organizations goals.

• market

• marketing

• market concept

• marketing mix

A _____ consists of potential customers with shared needs who have the desire and ability to buy a product.

• target market

• market

• demographic

• marketing mix

_____ occur when people experience a lack of basic necessities such as food, clothing, or shelter.

• needs

• wants

• target market

• marketing mix

____ are things that people desire based on personality, experiences, or information about a product.

• wants

• needs

• target market

• marketing mix

A _____ is a specific group of consumers that an organization selects as the focus of its marketing plan.

• marketing mix

• channel of distribution

• target market

• market

The _____ is a combination of four basic marketing strategies, known as the 4 Ps (product, place, promotion, price).

• marketing mix

• marketing concept

• target market

• channel of distrubition

_______ is the study of the choice and decisions that affect making, distributing, and using goods/services.

• copyright

• GDP-Gross Domestic Product

• economics

• competition

_______ is the value of all goods and services produced within the country.

• economics

• profit

• competition

• GDP-Gross Domestic Product

_____ is the money left after all costs and expenses of a business are paid.

• competiton

• deficit

• profit

• copyright