Marketing Fundamentals Final

Marketing connects __________ to ____________.

• Goods to services

• Industrial products to consumer products

• Producers to consumers

• Workers to salespeople

Customer who buys a product for their own use.

• Competition

• Consumer

• Metrics

• Business

Physical item that can be touched.

• Good

• Service

• Idea

• Metrics

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

• Opportunity Cost

• Marketing

• Metrics

• Vision

Strategy for using the elements of product, price, place, and promotion.

• Marketing Mix

• Market Size

• Marketing Trend

• Market Planning

Something necessary for survival, such as food, clothing, and shelter.

• Need

• Want

Process of communicating with potential customers in an effort to influence their buying behavior.

• Product

• Price

• Place

• Promotion

The __________ is the amount the customer will pay for the product.

• Price

• Product

• Place/Distribution

• Promotion

Decisions made about quality, quantity, size, color, and packaging are part of ____________ strategies.

• Place

• Price

• Promotion

• Product

Specific group of customers whose needs and wants a company will focus on satisfying.

• Monopoly

• Customer Profile

• Target Market

• Focus Group