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MM Unit 2
Marketing Fundamentals
| Question | Answer |
|---|---|
| Location and methods used to make product available to customers | Distribution |
| Results from changes in the tangible parts of a product | Form utility |
| Process of developing, promoting and distributing products to satisfy customer needs and wants (exchange relationships) | Marketing |
| The four basic marketing strategies, collectively known as the four P's: product, place, price, and promotion | Marketing mix |
| Using the needs of customers as the primary focus when developing a marketing mix | Marketing concept |
| Making products available where the consumers wants them | Place utility |
| Amount the customers pay | Price |
| Methods used and information communicated to encourage customers to purchase and to increase their satisfaction | Promotion |
| A tangible or physical item purchased by consumers | Product |
| The stages that a product goes through during its life, including introduction, growth, maturity, and decline | Product life cycle |
| Results from the affordability of the product | Possession utility |
| An intangible task performed for a customer | Service |
| Making the products available when the customer wants it | Time utility |
| The attributes of a product that make it capable of satisfying consumers' needs and wants | Utility |
Created by:
kweenbee30
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