| A | B |
|---|
| consumers | NOT all marketing is directed at this group, it is also directed at businesses as well |
| target market | first step in developing a marketing strategy is to determine THIS |
| primary | Studies carried out to gather new information specifically directed at a current problem is THIS type of marketing research |
| efficiciency | Businesses gain THIS by producing large numbers of products at one time. |
| MOST | Personalized promotion is the most effective at closing a sale but is also the __________expensive form of marketing communication. |
| effective | Promotion can be made more ___________ by choosing target markets and studying their needs and decision-making processes. |
| marketing functions | THESE include pricing, promotion, selling and several others |
| selling | The marketing function involves communicating directly with potential customers to determine their needs |
| promotion | Advertising is a function of THIS |
| recognize a need | The first step in the consumer decision-making process |
| marketing mix | four elements of THIS include Product, Place (distribution), price and promotion |
| survey | This type of marketing research study gathers information from people using a carefully planned set of questions. |
| product features | Additions and improvements to a basic product |
| evaluate | After several new product ideas have been generated, companies will most likely do THIS with the ideas to determine which have the best opportunity to succeed. |
| services | Because THESE are intangible it means that they have no physical form. |
| selling price | Product costs + operating expenses + profit = |
| gross margin | the difference between the selling price and the product costs. |
| channel members | Businesses that take part in a channel of distribution |
| sender | In a communication path, the person or organization that has information to communicate to another person or organization |
| advertising | The most known and used type of mass promotion |
| paid:unpaid | A key difference between advertising and publicity is that advertising is ________ while publicity is _________ |
| sales promotion | Contests, games, and product giveaways are all examples of THIS |
| distribution | The marketing function that involves determining the best ways for customers to locate, obtain, and use an organization’s products and services |
| marketing strategy | A company’s plan that identifies how it will use marketing to achieve its goal |
| marketing orientation | THIS considers the needs of customers when developing a marketing mix. |
| buying motives | The reasons consumers decide what products and services to purchase |
| marketing research | Finding solutions to problems through carefully designed studies involving consumers |
| product | everything a business offers to satisfy a customer’s needs |
| price | The money a customer must pay for a product or service |
| channel of distribution | The route a product follows and the businesses involved in moving a product from the producer to the final consumer |
