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Mktg Unit 1 Review

Unit 1 Exam Review

QuestionAnswer
The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges Marketing
Considers the direction in which the firm is heading and how marketing lines up with that direction Planning
Conducts activities to capture attention about a good or service. Each activity involves contact with a customer. Promoting
Figures out which steps to take to ensure a timely delivery. Distributing/Place
Where does marketing occur? Wherever customers are
What are the 4 Ps? Product, Place, Promotion, Price
A philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying consumer wants and needs while achieving company goals. Marketing Concept
The element of the marketing concept where the company finds out what customers want and producing those products. Customer orientation
The element of the marketing concept where the company makes/prices the product better than the competition's model. Company commitment
The element of the marketing concept where the company maintains the firm's purpose while applying the marketing concept. Company goals
What are the 6 functions of marketing? Channel management, Marketing-Information management, Pricing, Product/Service management, Promotion, Selling
Created by: bypridge
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