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Sports & Ent 1.1~1.2

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
marketing   the process of developing, promoting, and distributing products or goods and services, to satisfy customers needs and wants  
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marketing concepts   idea that organizations need to satisfy their customers while also trying to reach their organizations goals  
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market   potential customers with shared needs who have the desire and ability to buy a product  
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needs   A Lack of basic necessities such as food clothing of shelter  
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wants   Things that people desire based on personality, experiences, or information about a product  
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target market   A specific group of consumers that an organization selects as the focus of its marketing plan  
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demographics   Statistics that describe a population in terms of personal characteristics  
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Marketing mix   A combination of four basic marketing strategies, know as the 4ps___ product, price, place, and promotion  
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Channel of distribution   Path a product takes form the producer to the consumer  
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Consumer   An individual that uses goods and services of a business  
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Direct-Marketing Channel   The type of channel when the manufacture sells directly to the consumer  
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Intermediary   The "middle" man within the channel of distribution  
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Price   Refers to the amount in money that something is offered for sale. It is also the second element of the marketing mix  
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Place   The means of getting the product into the hands of the customer. It is also the third element of the marketing mix  
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Naming   Part of the strategies for products. It should be catchy and easily remembered  
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Indirect-Marketing Channel   The type of channel when the manufacture sells to the consumer through other business  
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Packaging   Part of the strategies for products. It protects the product and is design to appeal to the consumer  
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Wholesalers   A type of intermediary that breaks down ‘bulk'. Buys from producers and sell small quantities to retailers  
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Retailers   A type of intermediary that has a much stronger personal relationship with the consumer.  
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Agents   A type of intermediary that is mainly used in international markets  
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Personal Selling   Involves direct face to face relationships between sellers and potential customers  
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Mass Selling   Communicates ideas or information to large numbers of customers at the same time  
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Promotion   Builds product awareness & creates interest  
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Premium Pricing   A type of pricing that sets a high price where there is a uniqueness  
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Economy Pricing   A type of pricing that is set at a no frills low price  
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Penetration Pricing   A type of pricing for products/services that is set artificially low in order to gain market share  
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Skimming Pricing   Charge a high price because you have a substantial competitive advantage  
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Internet   Sell to a geographically disperse market. Use of e-commerce technology  
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Created by: riders09
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