| A | B |
|---|
| The process of developing, promoting, and distributing products in order to satisfy customers’ needs and wants. | Marketing |
| Material items you can touch. | Goods |
| A series of tasks performed for a customer. | Services |
| Obtaining goods and services for use in the operation of a business or for resale. | Purchases |
| The determination of an exchange price at which the buyer and seller perceive optimum value for a good or service. | Pricing |
| The process of creating a product in response to market opportunities | Product Planning |
| Gathering, recording, analyzing and disseminating information to aid in making marketing decisions. | Marketing Information Management |
| Communicates information about products, services, images or ideas to customers or clients to influence their purchase behavior. | Promotion |
| how much customers are willing to pay for a product or service | Demand-based pricing |
| What are the 4 P's of Marketing | Product, Price, Place, Promotion |
| placing a product in a certain market to get a desired customer response | Positioning |
| the routes that products and services take from the time they are produced to the time they are consumed | Channels of distribution |
| price determined by using the wholesale cost of an item as the basis for the price charged | Cost Based Pricing |
| a price determined by adding an amount to the wholesale cost of an item | Markup Price |
| a price determined by subtracting an amount from the retail price of an item | Markdown Price |
| Pricing that is determined y considering what competitors charge for the same good or services | Competition-Based Pricing |
| sending fliers, catalogs, and letters to target customers through the mail | Direct-Mail Advertising |
| Advertising on billboards and signs are examples of what type of adverising | Outdoor Advertising |
| Advertising on buses and taxis are examples of what type of advertising | Transit Advertising |
| Advertising that is free, but can be negative if the media coverage is unfavorable. | Publicity |
| direct communication between a prospective buyer and a sales representative is called . . . | Personal Selling |
| determined through marketing research; such as, surveys and customer interviews. | Needs Assessment |
| buying based on logical reasoning. | Rational buying |
| Buying based on the desire to have a product | Emotional buying |
| Name 3 examples of sales promotions | Contests, Free samples, Coupons, Frequent purchaser programs, Gifts, Rebates, Special events |
| Name an advantage of using TV commercials for advertising | Reaches a large audience |
| Name a disadvantage of using TV commercials for advertsising | Expensive |
| Name an advantage of using radio for advertising | Less expensive than TV |
| Name a disadvantage of using radio for advertising | it is a purely audio message |
| What is an advantage of using newspapers for advertising | It is relatively inexpensive |
| What is a disadvantage of using newspapers for advertising | Your ad competes with others and people don't read the newspaper as much as they use to |
| A written statement meant to inform the media of an event or product | Press Release |
| using the phone to market your product or service. | Telemarketing |
| Establishing informal ties with people who can help your business grow | Networking |
