Flashcards in Marketing Deck (12):
What are the 4 Ps?
What is the triple bottom line?
What is marketing?
Marketing is delivering value to everyone who is involved in your target audience.
What are the stakeholders in marketing?
Citizens of other nations
What is the marketing concept?
Identify & satisfy consumer needs, ensuring long term profitability
What is a consumer?
The ultimate user of goods, ideas and services
What are needs?
The recognition of a difference between a consumers actual state and some ideal or desired state
What are wants?
The desire to satisfy needs in specific ways that are culturally and socially influenced.
What is a benefit?
The outcome sought by a customer that motivates buying behaviour.
What is demand?
Customers desire for a product along with the resources to obtain them.
What is utility?
The usefulness consumers receive from buying, owning and consuming a product.