Principles of Business, Marketing and Finance, Ch 10-13 Review

Dynamic activities that identify, anticipate, and satisfy customer demand while making a profit:

• Business

• Marketing

• Management

• Economics

The four Ps of marketing are:

• product, price, place, purchasing

• product, price, purchasing, people

• product, price, place, people

• product, price, place, promotion

A specific group of customers whose needs a company will focus on satisfying:

• buying market

• goal market

• target market

• purchasing market

Segmenting a market based on where customers live is:

• place segmentation

• locatoin segmentation

• target segmentation

• geographic segmentation

This type of selling focuses on building long-term connections with customers:

• pesonal selling

• relationship selling

• customer selling

• target selling

A type of influence that comes from the people around which a person lives:

• business

• mass

• routine

• social

A buying decision made with no planning or research:

• routine

• limited

• impulse

• ordinary

All the goods and services a business sells:

• catalog

• web site

• listing

• product mix

Goods that consumers buy often and with little effort:

• shopping

• convenience

• major

• specialty

The amount added to the cost of an item to determine selling price:

• profit

• tax

• markup

• MSRP