| A | B |
|---|
| marketing | process of developing, promoting, and distributing products to satisfy customers' needs and wants |
| products | goods and services |
| goods | things you can actually touch with your hands |
| services | actions that are done for you, you can't physically touch |
| exchange | takes place every tie something is sold in market, I give you money, you give me product |
| product planning and packaging | all part of marketing, what are the characteristics of the product, how will we package it? |
| advertising | found in newspaper, commercials on tv, 30-sec spots on the radio |
| displays and promotional techniques | special shelving that houses your product, buy one, get one half off, $10 off coupon |
| personal selling | that one-on-one sales pitch |
| distribution | trucks moving goods from producers of products to consumers |
| marketing research | someone asks you questions and takes note on a clipboard |
| business, management, Entrepreneurship | understanding the basics of business, how to run one |
| communication and interpersonal skills | knowing how to interact effectively with others. |
| economics | understanding why people spend money the way they do, depending on their money supply |
| professional development | taking courses to explore your career field and finding chances for growth |
| product/service management | developing a new product or enhancing a current product |
| selling | personal one- on- one or impersonal via computer & internet |
| marketing concept | satisfying customers' needs and wants in order to make a profit |
| utilities | characteristics of a product/service that makes it useful to a customer |
| form utility | raw materials changed in final product |
| place utility | have a product where customers can buy it |
| time utility | have a product available at a certain time of year or a convenient time of day |
| possession utility | the exchange of a product for some monetary value, take it home that day! |
| information utility | providing info about product to help customer make informed decision to buy, features & benefits |
| benefit of marketing | more demand for product, unit cost of product drops, greater profit |
| marketing generates competition | new and improved products encourage customers to buy, sales are high, other businesses start to sell similar product |
| marketing skills | understanding business, relating and communicating effectively |
| communication | ability to express ideas to fellow employees, customers and other who directly impact business |
| interpersonal skills | how you relate to others in the work place, etc. |
| marketing careers are based on... | planning, developing, promoting, and distributing goods and services to customers |
| jobs in marketing are increasing, while | jobs in production are decreasing |
| benefits | privileges or monetary payments beyond salary or wages, company car, expense account, bonus program |
| occupational area | category of jobs that involve similar skills and aptitudes |
| entry level jobs | no prior experience, limited decisions made |
| career sustaining jobs | higher level of skills, more decision making, some control over work and more responsibility |
| marketing specialist | show leadership ability and make many decisions daily. strong job related skills and good leadership skills |
| marketing supervisor | good management skills, ability to make many decisions daily and excellent marketing skills, prestige comes with job, income is high |
| manager/owner | top job, competent to run small business or a significant part of a large business, highly skilled in many areas, responsible for success, failures, problems that occur. great responsibility. |
