Marketing Chapter 1

The marketing of goods and services to organizations by other organizations

• Product

• Exchange

• Business-to-Business

A social and managerial process through which individuals and groups obtain what they need or want by creating an exchanging value with others

• Exchange

• Marketing

• Advertising

Product, Price, Place, Promotion

• Marketing

• Planning

• Marketing Mix

Something that is necessary or required

• AMA

• Need

• Place

Trading of values between markets (buyers) and marketers (sellers)

• Exchange

• Need

• Price

Any bundle of attributes, whether tangible or intangible, that is capable of satisfying customer wants and needs

• Place

• Product

• Price

• Promotion

Any person or organization engaged in the marketing of goods, services, places, ideas, causes, or any other set of values

• Market

• Marketer

The set of individuals or organizations that need and want the goods/services offered by marketing organizations

• Market

• Marketer

Products or services purchased by final consumers for their own personal or household use

• Specialty goods

• Convenience goods

• Consumer goods

Inexpensive, widely distributed goods that are purchased frequently with a minimum of effort and contribute to consumers’ day-to-day lifestyle maintenance

• Specialty goods

• Convenience goods

• Consumer goods