Tangible items that have monetary value and satisfy your needs

The process of deciding how to get goods in customer's hands

Obtaining the money necessary to pay for setting up and running a business

Gathering good information about customer's, trends, and competing products to analyze it for making marketing decisions

Decisions that dictate how much to charge for goods and services in order to make a profit

Obtaining, developing, maintaining and improving a product or a product mix responding to market opportunities

The effort to inform, persuade, or remind potential customers about a business's products or services

Providing customers with goods and services they want

The idea that a business should strive to satisfy customer's needs and wants while making a profit for the business

_________ generates competition, which fosters new and improved products

________ are the attributes of a product or service that make it capable of satisfying consumer's wants and needs

Involves changing raw materials or putting parts together to make them more useful

Involves having a product available at a certain time of the year or a convenient time of day

The label on a frozen food entree will tell you the ingredients, nutritional information, and preparation directions

In business, a marketing concept will list information such as ethnic background, age, income level and geographic location.

Selling camping gear through catalogs mailed to Langston Hughes Camping Club members and other outdoors people is an example of place utility.

In socialist countries, the government (select all that apply) _________.

_____________ is the measure of output divided by input of worker hours.

People who share similar needs and wants and who can purchase your products are called a market

Intangible items that have monetary value and satisfy needs and wants.

Any place buyers and sellers exchange goods, services, and some form of money.

How/where a product will be distributed.

Setting and communicating the value of products and services. Setting the cost at the right level.

Any form of communication used to inform, persuade, or remind; how potential customers will be told about the product.

Providing customers with the goods & services they want at a given cost.

All potential customers who will buy a product for personal use.

Businesses that buy products to use in their operations; also called the business-to-business market (this can be abbreviated as b-to-b or b2b).

If a business aims its advertising toward a specific group of consumers that have similar wants and needs, that group would be their _________.

THE 4 P's - product, place, promotion, and price.

What to make, how to package it, what brand name to use and what image to project.

A type of promotion used to get people to want to buy something.

An individual who buys products or services for personal use and not for manufacture or resale.

A group of people or companies who want a product or service and are willing and able to buy it.

The person who buys a product.

The owner of a miniature golf business provides customers...

Any goods and services a business sells.

An activity that is done for another person, such as house cleaning.

Businesses can use a marketing mix to promote products to a specified target market.

A marketing mix is a formal written document which directs business activities for a specific time.

In marketing, having a time frame will indicate if an objective has been reached.

Understanding ethnic backgrounds and household income is a part of market segmentation.

In the united states, the most rapidly increasing ethnic population is Caucasians.

McDonald's has began marketing a new chicken nugget sauce that includes spices often found in Mexican Cuisine. How is the company segmenting its market?

The International House of Pancakes (IHOP) has decided to sell its coffee mugs in local coffee shops. What type of marketing decision was this?

The Music Stand direct-mail company wants to send catalogs to music teachers , dancers and other music lovers. What type of data would be helpful in this endeavor?

According to the text , which U.S ethnic population is declining , relative to other ethnic populations.

Brief overview of entire marketing plan is...

Characteristics such as age, gender, ethnic background, and income are...

Analysis of outside influences of an organization is...

Putting a market plan into action and managing it...

Information about where people live...

Separating large groups into smaller groups based on characteristics...

An internal and external analysis of a company that is conducted in marketing...

A combination of four strategies used to market a product...

Alert to changes in laws and regulations...

Money left after taking out taxes...

What is the purpose of an environmental scan?

What is discretionary income?

The Baby Boom Generation are...

According to the U.S. Census, more couples are...

Mass marketing involves...

During the last three months of the year, a grocery store stocks its shelves with plenty of canned cranberry sauce in order to increase the cranberry sauce's ____________ utility.

Obtaining the money needed to start and operate a business is a marketing function known as ___________.

Retailers offer their customers installment or layaway plans in order to increase the ______________ utility of their products.

The employees of Home Depot are expert craftspeople who enjoy giving their customers advice about do-it-yourself (DIY) projects. The employees' advice increases the _________ utility of their goods.

Transforming recyclable water bottles into beautiful new art sculptures is an example of ___________ utility.

Shopping at Target and paying cash for your payments is a function of _______________.

When demand and production for a product increases in the world of marketing, what usually decreases?

Obtaining, developing, or improving a product is __________.

The added value of a product in economic terms is _______.

Planning, promoting, and distributing products is _________.

Percentage of total sales generated by competing companies is ____________.

Product, price, place and promotion are the _________.

Resource scarcity forces nations to make economic decisions.

Germany has a socialist economy; therefore the German people pay much less in taxes than Americans pay.

As a factor of production, the term labor refers to both skilled and unskilled workers.

In a command economy, it is individual consumers who decide what items will best satisfy their wants and needs.

A country's infrastructure includes its buildings, water systems, sewers, highways, utilities, and communication networks.

In a market economy, who decides how products are produced?

In a market economy, who decides whether a business will survive or fail?

In economic terms, land, labor and capital refers to _________.

Which economy would best describe that of the United States?

What is the organized way a nation provides for the needs and wants of its people?

Money to start and operate a business is ________________.

All things used in producing goods and services are __________.

The government makes all economic decisions is ______________.

Select the statement that best defines the term economy.

What is a command economy?

What are the phases of the business cycle?

What are factors of production?

A market economy is different than a command economy because _______________.

_______________ refers to rising prices.

______________ is the difference between wants and needs on one hand and available resources on the other hand.

_____________ is the measure of output divided by input of worker hours.

_________________ is the process of selling government-owned business to private individuals.

_____________ includes the stages an economy goes through due to recurring slowdown and growth.

When the economy is slowing down and needs a boost, the government may do the following (select all that apply)

A country's standard of living (select all that apply)

Lower unemployment, an increase in the output of goods and services, and high consumer spending best illustrates the _________ period of the business cycle.