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| OWN | A company that adopts the marketing concept will have its _______marketing executive complete the major marketing activities. |
| industrial goods | Products designed for use by other businesses |
| retailers | Businesses that sell directly to final consumers. |
| wholesalers | Businesses that buy from and sell to other businesses. |
| consumer goods | Products such as jewelry, clothes, and computer games. |
| maturity stage | Product stage in which a product competes with many other brands with similar features |
| product | All attributes, tangible and intangible, that consumers receive in exchange for the purchase price |
| price | Amount of money given to acquire a product. |
| marketing mix | Blend of all decisions related to product, price, distribution, and promotion. |
| target markets | Groups of people with similar needs to whom a business plans to sell its product. |
| convenience goods | Inexpensive goods that are purchased often, without a lot of thought or shopping around. |
| mix | The marketing ________ consists of product place price promotion |
| consumers | Retailers are businesses that sell to |
| target | ___________markets are groups of customers with very similar needs to whom the company can sell its product |
| buying | Obtaining goods to be resold is a marketing activity known as |
| one year | The normal length of time for which a marketing plan is developed |
| before | A company that has adopted the marketing concept uses market research to identify markets ______________ products are developed |
| maturity | Companies emphasize promotion and price of their products in THIS stage of the product life cycle |
| Industrial | ______________ goods are products used by other businesses in the production of products for their consumers. |
| sales-oriented | Businesses that emphasize distribution and promotion in order to sell the products produced are said to be ____________________ |
| retailers | Businesses that sell directly to the final consumer |
| distribution | the transportation of products from producer to consumer. |
| marketing plan | describes the goals the business wants to accomplish and the target markets it wants to serve. |
| locations | Finding the best marketing ____________ enables a business to operate more efficiently. |
| blending | The _____________ of all decisions that relate to the four elements of marketing is called the marketing mix |
| 1/3 | What amount of all the people employed in the United States work in a marketing job or marketing business |
| sales, profits | The product life cycle concept suggests that both _______and _________ will ultimately decline |
| time | Whether the customer is willing to spend _________ to compare products is a factor used to determine the consumer goods categories |
| half | The average cost of marketing is approximately _________ of every dollar consumers spend |
| new markets | One way that businesses respond to the maturity stage of the life cycle is to look for THESE |
