What takes place every time something is sold in the marketplace?

The added value to a product

The kinds of products you can't physically touch...

What are the kinds of products you can touch or hold in your hands?

Goods and services; both have monetary value and satisfy customers' needs and wants

What is the idea that a business should strive to satisfy customers' needs and wants while generating a profit for the firm?

Who are all the people who share similar needs and wants and who have the ability to purchase a given product?

The group that is identified for a specific marketing program.

Which of these is NOT one of the 4 P's of Marketing?

The money left after taking out taxes...

What is the study of internal and external factors that affect marketing strategies?

What is a way of analyzing a market by specific characteristics in order to create a target market?

Statistics that describe a population in terms of personal characteristics...

Involves studies of consumers based on social and psychological characteristics...

The money left after paying for basic living necessities such as food, shelter, and clothing...

What is an assessment of a company's opportunities, strengths, threats and weaknesses?

Identifies target markets and sets marketing mix choices that focus on those markets...

What is the segmentation of the market based on where people live?

What is a formal written document that directs a company's activities for a specific period of time?

What involves using a single marketing strategy to reach all customers?

That prepares a company for competition or a changing marketplace?

The process of developing, promoting, and distributing products to satisfy customers' needs and wants.

All of the following are the economic questions except...?

What is the purpose of the activities in a traditional economy?

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

People and their skills, abilities, and efforts are characterized as ____________?

Which economy would best describe the U.S. economy?

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

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

A tree growing in the forest is a factor of production called ________________.

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

A catering business' ovens, food supplies and the money she used to start her business are all examples of which factor of productions?

What are all things used in producing goods and services?

What is the money used to start and operate a business?

Involves the process and methods of gathering, recording, analyzing, and reporting of information related to marketing goods and services...

Research that focuses on smaller numbers of people and tries to answer "why" or "how" questions.

Concerned with the size and location of a market, the competition, and the segmentation within the market for a particular product/service...

Research that answers questions that start with "how many" or "how much"...

Consumer panels, also called _______ _______, are groups of people who are questioned to provide information.

_____________ involves observing shoppers to decide which ones to choose as research subjects. After observation, researchers approach the selected shoppers to ask them questions.

___________ is the process of compiling, analyzing, and interpreting the results of primary and secondary data collection.

A questionnaire has ______ when the questions asked measure what was intended to be measured.

_________ exists when a research technique produces nearly identical results in repeated trials. It requires that the questions ask for the same type of information from all respondents.

____________ marketing and advertising are unlike most promotional outlets because it allows you to engage with your audience in an authentic way.

What involves making decisions about the features and services of a product or idea that will help sell that product?

A group of closely related products manufactured or sold by a business...

What is the number of different product lines a business manufactures or sells.

What are all the different products that a company makes or sells?

Refers to the number of items offered within each product line...

New products are frequently ___________ ____________ to see whether consumers will accept them.

_________________ is the stage involving introducing a new product to the public.

Companies that have successful product lines often add products to those lines to take advantage of customers' positive attitudes toward the ___________ ___________ .

What represents the stages that a product goes through during its life?

The focus of ______________________ is the image that a product projects. Its goal is to set the product apart from the competition.

A _____________ is a name, term, design, symbol, or combination of these elements that identifies a product or service and distinguishes it from its competitors.

A ___________________, also called a product brand, is a word, group of words, letters, or numbers that represent a product or service.

A ___________________is a unique symbol, coloring, lettering, or other design element.

A ___________________, or corporate brand, identifies and promotes a company or a division of a particular corporation.

A _____________ is the physical container or wrapping for a product - an integral part of product planning and promotion.