Entrepreneurship-Chp. 5

all of the processes—planning, pricing, promoting, distributing, and selling—utilized by a company to place its product in the hands of potential customers

• branding

• product mix

• positioning

• marketing

the name, symbol, or design used to identify a product

• marketing concept

• brand

• cost-based pricing

• marketing

uses the needs of customers as the primary focus during the planning, production, distribution, and promotion of a product or service

• marketing concept

• marketing mix

• marketing plan

• product mix

different products and services that a business sells

• marketing

• product mix

• brand

• market share

blending of the product, price, distribution, and promotion used to reach a target market

• product mix

• marketing concept

• marketing plan

• marketing mix

product characteristics that will satisfy customer needs

• features

• positioning

• market share

• product mix

plan that identifies how marketing goals will be achieved

• branding

• product mix

• marketing strategy

• marketing plan

defines the market, identifies customers and competitors, outlines a strategy for attracting and keeping customers, and recognizes and anticipates change

• marketing plan

• branding

• features

• marketing mix

creating an image for a product in the customer’s mind

• features

• product mix

• marketing

• positioning

business’s percentage of the total sales generated by all companies in the same market

• product mix

• positioning

• features

• market share