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marketing
Ch. one
| Question | Answer |
|---|---|
| Marketing | is a form of communication between you and your customers with the goal of selling your product or service to them. |
| Goods | benefit or advantage to someone or something |
| Services | the action of helping or doing work for someone |
| Marketing Concept | is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. |
| Utility | the state of being useful, profitable, or beneficial. |
| Market | advertise or promote (something) |
| Consumer Market | is defined as creating and selling products, goods and services to individual buyers, as opposed to trying to appeal to businesses. Commercials trying to sell toys or books or movies to the average individual are examples of consumer marketing. |
| Industrial Market | is the marketing of goods and services by one business to another |
| Market Share | the portion of a market controlled by a particular company or product. |
| Target Market | a particular group of consumers at which a product or service is aimed |
| Customer Profile | A description of a customer or set of customers that includes demographic, geographic, and psychographic characteristics, as well as buying patterns, creditworthiness, and purchase history. |
| Marketing Mix | a combination of factors that can be controlled by a company to influence consumers to purchase its products. |