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Buisness Managment
Marketing Part 4 Chapter 5
Question | Answer |
---|---|
What is MArketing? | Organizational function and set of processes for creatijng, communicating and delvering value to customers relationships in ways that benefit the organzation and its stake holders |
what is exchange process? | activity in which two or more parties give something of value to each other to satisfy perceived needs. |
What is Utility? | the Power of good or service to satisfy a want or need. |
Identify ways in whice marketing creates utility? | FORM UTILITY- conveerting raw materials, component parts and other inputs into finished goods and services |
Identify ways in whice marketing creates utility? | TIME UTILITY- is created by making a good cor service available when customers want to purchase it. |
Identify ways in whice marketing creates utility? | PLACE UTILITY- is created by making a product available in a location convenient for customers |
Identify ways in whice marketing creates utility? | OWNERSHIP UTILITY- refers to an orderly transfer of goods and services from the seller to the buyer |
What is Marketing concept? | Companywide consumer orientation to promote long-run success |
How is the marketing concept tied to the relationship era of marketing? |