Marketing Ch 1&2
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| Products | Goods and services
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| Goods | Tangible products
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| Services | Intangible products; usually a series of tasks performed for a customer
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| Exchange | 1. Merchandise brought back to be replaced by other merchandise 2. Sale of something in the marketplace
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| Utility | Added economic value
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| Form utility | Value added by changing raw materials or putting parts together to make them more useful
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| Place utility | Value added by having a product where customers can buy it
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| Time utility | Value added by having a product available at a certain time of year or a convenient time of day
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| Possession utility | Value added by exchanging a product for some monetary value
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| Information utility | Value added by communicating with the consumer
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| Customers | Those who buy a product
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| Consumers | Those who actually use a product
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| Value | Personal satisfaction gained from use of a good or service
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| Marketing mix | Combination of marketing decisions involving product, price, place, and promotion; also called the four P's
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| Positioning | Getting consumers to think of a product in a certain way
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| Mass-marketing | Using a single marketing plan to reach all the consumers
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| Market segmentation | Dividing the total market into smaller groups of people who share specific needs and characteristics
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| Geographics | Segmentation of a market based on where people live
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| Demographics | Statistics that describe a population in terms of personal characteristics like age, gender, income, ethnic background, education, and occupation
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| Psychographics | Study of consumers based on their lifestyle, and the attitudes and values that shape it
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| Customer Profile | Picture of a prospective customer based on geographic, demographic, and psychographic data
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You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
Stephen.P
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