| A | B |
|---|
| marketing functions | information management, product/service management, pricing, distribution, selling, and promotion |
| marketing-information management | involves obtaining, managing, and using information about products and services, customers, and competitors to improve business decision-making and the performance of marketing activities |
| product-service management | includes a wide range of management activities, ranging from the time that there's a new idea for a product to eventually providing ongoing support to customers who have purchased the new product |
| pricing | involves determining and communicating the value of products and services |
| marketing research | involves customers in order to find solutions to problems through carefully designed studies |
| distribution | involves using the best ways for customers to locate, obtain, and use the products and services of a business |
| selling | involves communicating directly with potential customers in order to determine and satisfy their needs and wants |
| financing | involves budgeting for marketing activities, securing necessary funds for operations, and providing financial assistance to customers |
| promotion | involves communicating information such as features and prices about products and services to potential customers. |
| tangible | product |
| intangible | service |
| channel of distribiution | how products and services reach final customers and the businesses involved. |
| indirect channel of distribution | involves the exchange of products and services with one or more business and consumer. |
| personalized promotion | is customized for individual customer. |
| mass promotion | communicated with many people with a common message. |
| basic product | simplest form of a product or service |
| product features | include additions and improvements to the product or service |
| options | include choices of the product or servic |
| brand name | a company’s unique identification for a product or service |
| product features | include additions and improvements to the product or service |
| warranty | an offer to repair, replace, or provide a refund a product or service inorder to build the confidence of consumers in a business |
