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Marketing Terms

Practice the definition of these marketing terms

AB
ProductWhat you want to sell to a customer
PriceHow much you will charge for your service or product
PromotionHow customers will learn about your product. This could include traditional advertising, social media, internet ads, etc.
Place (Distribution)How will your customers be able to purchase your product? Where will they get it?
SurveyA process for gathering information about your client.
Focus GroupBringing in a group of people and asking them questions about your product or service. Sometimes involves having them test your product or service.
Naturalistic ObservationWatching how your customers or consumers use the product or service in "the real world." Could involve watching customers at a store, watching how they use a new computer, etc.
Place UtilityCustomer value added by making a product available at a convenient location
Possession UtilityCustomer value created when someone takes ownership of a product
Time UtilityCustomer value added by making a product available at a convenient time
Form UtilityCustomer value created by converting raw materials and other inputs into finished goods and services


JHHS Computer Science
WY

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