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Unit 3.01 Terms Bro
| Question | Answer |
|---|---|
| May include several businesses involved with designing, developing, maintaining, improving, and obtaining products and services in order to meet the needs of customers. | Product/service management |
| Involves using the best ways for customers to locate, obtain, and use the products and services of a business. | Place (Distribution) |
| Involves communicating directly with potential customers in order to determine and satisfy their needs and wants. | Selling |
| Information management involves obtaining, managing, and using information about products and services, customers, and competitors to improve business decision-making and the preformance of marketing activities. | Marketing |
| Involves budgeting for marketing activities, securng necessary funds for operations, and providing financial assistance to customers. | Financing |
| Involves determining and communicating the value of products and services. | Pricing |
| Involves communicating information such as features and prices about products and services to potential customers. | Promotion |
| Specific set of questions asked to consumers. | Surveys |
| Small groups of consumers that discuss a specific product. | Focus groups |
| Record the actions of consumers rather than questioning them. | Observations |
| A comparison of two controlled alternatives for consumers. | Experiment |
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lancerammo77
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