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1

What is marketing?

An organization function and a a set of precess for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders

2

what is utility in marketing?

the ability of goods and services to satisfy consumer wants.

3

what are the different types of utility?

Form
Time
Place
Ownership

4

What is form utility?

converting inputs into a finished form

5

what is time utility?

satisfing wants with a service by providing goods a service at a convient time. Like a hooker you can call at one in the morning on a wednesday who provides the condom

6

What is place utility?

Statisfying wants by providing goods and a convient place for customers. i.e ATM

7

What is ownership utility?

satisfing wants by smoothly transfering ownersship of goods and services from seller to buyer.

8

what is people marketing?

Sports, politics, and art

9

what is place marketing?

This envolves drawing people to a particular place. i.e cities and states / tourism

10

what is event marketing?

partnerships between the public and private sectors / charity / culture /

11

what is idea marketing?

things like, recycle / don't drink and drive /dont smoke

12

what is a marketing concept?

A business philosophy that makes customers satisfaction - now and in the future - the central focus of the entire organization

13

What is customer relationship management(CRM)?

The ongoing process of acquiring maintaining and growing profitable customer relationships by delivering unmatched value

14

What is value?

A customer perception that a product has a better relationship than its competitors between the cost and the benefits.

15

Customer Satisfaction

When a customer perceives that a good or service service delivers value beyond their expectations

16

Customer loyalty

when a customer buys a product from the same supplier again and again sometimes paying even more for it than they would for a competitive price

17

What is a marketing plan

A formal document that defines marketing objectives and the specific strategies for achieving those objectives

18

market segmentation

dividing potential customers into groups of simlar people who are most likely to buy a particular product.

19

target market

The group of people who are most likely to buy a particular product

20

What is consumer marketers( Business to consumer marketers B2C)

Marketers who direct their efforts toward people who are buying products for personal consumption

21

what are Business marketers? (B2B)

Marketers who direct their efforts towards people who are buying products to use either directly or indirectly to produce other products

22

what is a limited relationship?

Smaller every day products such as soap

23

what is a full partnership

a high ticket product like a car / something that will be a big decision and with the consumer longer than the life span of soap

24

what are the four different types of segmentation?

Demographic, Geographic, Psychographic, and Behavioral

25

What is demographic Segmentation?

Dividing the market into smaller groups based on measurable characteristics, age income, ethnicity,

26

What is geographic segmentation?

Countries, cities, and population density

27

what is psychographic segmentation?

dividing based on attitude, interest, values, and lifestyle.

28

what is behavioral segmentation?

Dividing the market based on how people hehave toward various products. this includes the benefits that consumers seek and thhow they consumers use the products

29

What is the difference between Customer based and product use based?

CB divides markets by the characteristics of the customers / PUB divides based on how customers will use the product

30

What is the marketing mix?

The blend of marketing strategies for product prices, distribution, and promotion.