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Chapter8_IntrotoBus

KeyTerms

TermDefinition
Wholesaler A middle firm that assists with distribution activities between businessess
Buying motives The reasons for making a purchase.
Retailer A business firm that sells directly to the consumer.
Promotion The methods used to communicate information to customers in order to encourage purchases and to increase their satisfaction.
Indirect channel of distribution The process through which goods move through one or more middle firms between the producer and the consumer.
Price What customers pay and the method of payment.
Place The locations where products are sold and the ways they are made available to customers.
Direct channel of distribution The process through which goods are bought by the consumer directly from the producer.
Product Anything offered to the target market to satisfy its needs.
Channel of distribution The path that a product travels from producer to consumer.
Marketing mix A combination of marketing elements designed to meet the needs of a target market.
Target market A clearly identified group of consumers with needs that the business wants to satisfy.
Marketing strategy A two-step process for successfully planning and marketing products and services.
Marketing concept Considering the needs of customers when planning, pricing, distributing, and promoting a product or service.
Marketing functions Groups of marketing activities.
Created by: businessedrocks!
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