Midterm Exam - TMPE 2

Its a transaction an exchange intented to satisfy human needs and wants

• Bartering

• Servicing

• Producing

• Marketing

The following are the 3 elements in the marketing process except

• Marketers

• Consumer Market

• Being Marketed

• Target Market

A social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.

• Needs

• Wants

• Marketing

• Targeting

A state of felt deprivation of some basic satisfaction

• Need

• Wants

• Demands

Desires for specific satisfiers of the deep needs.

• Need

• Wants

• Demands

This are wants backed by ability to buy and willingness to buy.

• Need

• Wants

• Demands

This refers to physical object

• Product

• Services

• Raw

This refers to intangible object

• Product

• Services

• Raw

Anything that can be offered to someone to satisfy a need or want

• Product

• Services

• Raw

It is the customers' estimate of the product's capacity to satisfy a set of goals

• Needs

• Value

• Wants

• Services