Marketing Management Flashcards
1
Q
Deadly Fish Mercilessly Ponder Penniless Pitiful Snakes
A
Distribution Financing Market Information Management Pricing Product Service Promotion Selling
2
Q
define utility
A
the attributes of a product or service that make it capable of satisfying consumers wants and needs
3
Q
5 economic utilities
A
form utility place utility time utility possession utility information utility
4
Q
form utility
A
changing raw materials or putting parts together to make them more useful; dealing with, or making or producing things
5
Q
place utility
A
having a product where customers can buy it or access it
6
Q
time utility
A
having a product available at certain times of the year or a convenient time of the day
7
Q
possession utility
A
the exchange of products for some monetary value
8
Q
information utility
A
communication with the customer such as in labeling and packaging
9
Q
economic benefits of marketing
A
lower prices
new and improved products
competition
