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Marketing chap-1

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Question
Answer
Exchange   This takes place every times something is sold in the marketplace  
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Information   This utility involves communication with the customers; could be ads, displays, sings  
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Financing   Applying for a bank loan would be part of this marketing function  
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Time   Having a product available during a certain season creates this economic utility  
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Utility   The economic term for value added  
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Distribution   Decisions about which methods of transportation to use are part of this function  
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Pricing   deciding how much to charge for goods based on costs and expenses involved  
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Selling   answering customers questions in a person or on the phone, persuasion is involved in this function  
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promotion   all communication designed to inform, persuade and remind people about a product  
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form   changing raw materials into useful products creates this utility  
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Marketing Information Mgt   Marketing research falls under this function or marketing  
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Product/ services Mgt   Choosing and maintaining the appropriate product mix is part of this function  
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Place   This type of utility is created by businesses offering products at stores close to us  
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Possessions   Offering a store credit card may add economic value to the items offered by a store  
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Developing   Designing new products; creating products, writing books songs, for examples  
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Marketing   The process of developing, distributing and promoting goods and services  
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Created by: riders09
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