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AR Marketing Unit 2

Marketing Foundations

QuestionAnswer
Marketing creating and maintaining satisfying exchange relationships, also referred to as the process of planning, pricing, promoting, selling and distributing products to satisfy customers' needs and wants
Marketing concept focusing on satisfying customers' needs and wants in order to make a profit
Marketing mix comprises fourbasic marketing strategies collectively known as the four P's of marketing: product, price, place (distribution), and promotion
Place marketing mix element that refers to the location and methods used to make products available to customers
Price the value of money, or its equivalent, placed on a good or service; the actual amount customers pay
Product anything offered to a market to satisfy needs and wants, including tangible goods or intangible services
Promotion any form of communication used to inform, persuade, or remind customers
SWOT Analysis Identifying an organizations internal and external strengths, weaknesses, opportunities, and threats
Created by: grizzlybusiness
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