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Marketing2.01Vocab

QuestionAnswer
Planned, personalized communication designed to influence purchase decisions that ensure customer satisfaction Selling
A fact or characterstic of a product Feature
An advantage consumers receive from using a product Benefit
Type of producer that changes the shapes or forms of material so that they will be useful to consumers Manufacturer
Tangible objects Goods
Intangible objects Services
Business that buys consumer goods or services and sells them to the ultimate consumer Retailer
People who assume the risks of starting and operating a business Entrepreneur
Capable of being touched Tangible
Not capable of being touched Intangible
Process or activity of using goods and services for personal use Ultimate Consumption
System in which people make and spend their incomes Economy
Movement of resources from resource owners to producers and producers to consumers Economic Flow
Something required or essential that is lacking Need
Desire for something that may or may not be required Want
Info about a specific good or service Product Knowledge
Basic principles that govern your behavior Ethics
Usefulness Utility
Sales procedure in which the sales person shows the customer benefits of the product's features Sales Presentation
Goods and Services Products
Guidelines for selling Selling Policies
Determining conditions that apply to each type of sale Terms of Sale Policies
Guidelines for servicing customers Service Policies
Advertising that misleads Deceptive Advertising
Advertising that appears to be based on facts which are untrue False Statements of Fact
Advertising one product at an attractive price and then swithching it to an expensive product because the original advertised product is unavailable or of poor quality Bait and Switch Advertising
Created by: melinda.fornes
Popular Marketing sets

 

 



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