MP Final Exam Review

the process of planning, pricing, promoting, selling, and distributing ideas, goods, or services to create exchanges that satisfy customers

• marketing

• marketing mix

• selling

• promotions

the idea that businesses should strive to satisfy customers while also making a profit.

• customer service

• marketing concept

• branding

• selling

all of the people who share similar needs and wants and who have the ability to purchase a given product or service

• customer segment

• consumers

• market

• customers

the percentage of the total sales volume (piece of the pie) of companies that compete in a given market

• sales report

• profit levels

• market share

• market indicator

the group of customers identified for a specific marketing program

• sample

• customer group

• customer segment

• target market

also called the 4 Ps of marketing. The strategies of product, price, place, promotion that are tools used to influence customer buying decisions

• marketing mix

• elements of promotion

• marketing research process

• steps in the product planning process

selling additional goods or services to the customer

• buy one get one

• sales promotion

• suggesiton selling

• trial close

reward customers for purchasing products or services from a company.

• coupons

• sales promotions

• loyalty programs

• incentives

activities or incentives directed at customers to boost sales. Often for a short period of time and can include: coupons, product samples, and point of purchase displays

• direct marketing

• public relations

• sales promotions

• publicity stunts

the decisions about the path a product takes from manufacturer to the end user (consumer) as well as where to sell them

• product

• price

• place

• promotion