Marketing Concepts Flashcards

Front

What are the seven functions of marketing?

Back

Product/Service Management, Marketing Information Management, Pricing, Promotion, Distribution, Selling, Financing

Front

What are the 5 P’s of marketing also known as?

Back

The Marketing Mix

Front

What are the 5 P’s of marketing?

Back

Product, Price, Place, Promotion, People

Front

Define Marketing.

Back

The process of developing, promoting, and distributing products to satisfy customer needs and wants

Front

What are the steps in the marketing process?

Back

Understand the marketplace, design strategy, build program, build relationships, capture value

Front

What is a good?

Back

A tangible item that satisfies a need or want

Front

What is a service?

Back

An intangible activity that satisfies a need or want

Front

Define market segmentation.

Back

Dividing a market into smaller groups based on characteristics

Front

What are the three characteristics of segmentation?

Back

Demographic, Geographic, Psychographic

Front

What is a logo?

Back

A symbol or design representing a brand