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MM Unit 2

Marketing Fundamentals

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 on 2011-10-10

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