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Marketing Fundamentals

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