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Marketing Mix

Vocabulary

TermDefinition
Product What products you make and sell
Price How much your product is going to sell for
Promotion Advertising, Personal Selling, Sales Promotion, and Publicity
Place Where you're going to sell your products
Distribution Determining the best ways for customers to locate, obtain, and use the product and services of an organization. It involves moving the product each step from the design idea to the consumer.
Pricing Setting and communicating the value of products and services, setting the price at the right level.
Product/service management Developing, maintaining, improving, and acquiring products and services that meet consumer needs.
Financing Budgeting for marketing activities, obtaining the necessary funds needed for operations, and providing financial assistance to customers so they can purchase the business product and service.
Marketing-information management Obtaining, managing, and using information about what customers want to improve, business decision making, performance of marketing activities, and determining what will sell.
Selling Communicating directly with potential customers to determine and satisfy their needs.
Promotion Communicating with customers about the product to achieve the desired result-customer demand for and purchase of the product. Includes advertising, personal selling, publicity, and public relations.
Created by: Cesar Espitia
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