| A | B |
|---|
| Place utility | Catalogs or store location are examples of this utility |
| possession utility | Accepting installment plans, layaway, credit cards are examples of this utility |
| customer profile | list includes things like age, gender, income, etc |
| Exchange | process of receiving something for giving something else |
| Marketing research | a rating form or survey is an example |
| A service | examples would be non-tangibles like Bogey's or lessons |
| Place decision | means of getting a product to the consumer |
| Financing | function of obtaining money needed to start and operate business |
| Time utility | Having Christmas candy in DECEMBER |
| Information utility | salespeople providing advice is an example of this utility |
| Communication and interpersonal | skills essential to marketing |
| market | people who share needs/wants and have the money to purchase |
| Goods | tangible items |
| Product service management | obtaining developing improving a product |
| Promotion | the function that involves informing persuading reminding customers about a product |
| Pricing | the function that is deciding how much to charge |
| Distribution | transporting storing products |
| Marketing | planning, promoting, and distributing products is the short definition |
| form | the only non marketing utility |
| consumer | one who actually uses a product |
| distribution | the function that is deciding how to get products into customer's hands |
| industrial market | businesses buying for use in business or resale |
| product, place, price, promotion | 4 P's (Marketing Mix) |
| market share | companies % of the total market |
| market potential | total market |
| selling | the function that is providing customers with goods and services that they want |
| utility | usefullness, added value |
| price decision | what usually goes down if demand and supply go up is a part of this 4 P |
| pricing | paying cash for what is on a tag is a part of this function |
| product decision | new items are a part of this 4 P |
| promotion decision | one of 4 p's involving things like advertised sales |
| customer | one who actually buys the product |
| form utility | transforming raw materials into a more useful product |
| marketing information management | the marketing function that involves gathering and analyzing data to make decisions |
| How marketing lowers prices | Increased demand resulting in larger quantities and lower per unit cost and increased competitors are the benefits of this |
