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Flashcards in Marketing Deck (12):
1

What are the 4 Ps?

Products
Pricing
Place
Promotion

2

What is the triple bottom line?

Environmental
Economic
Social

3

What is marketing?

Marketing is delivering value to everyone who is involved in your target audience.

4

What are the stakeholders in marketing?

Sellers
Investors
Community residence
Citizens of other nations
Buyers/consumers

5

What is the marketing concept?

Identify & satisfy consumer needs, ensuring long term profitability

6

What is a consumer?

The ultimate user of goods, ideas and services

7

What are needs?

The recognition of a difference between a consumers actual state and some ideal or desired state

8

What are wants?

The desire to satisfy needs in specific ways that are culturally and socially influenced.

9

What is a benefit?

The outcome sought by a customer that motivates buying behaviour.

10

What is demand?

Customers desire for a product along with the resources to obtain them.

11

What is utility?

The usefulness consumers receive from buying, owning and consuming a product.

12

What are the types of utility?

Place
Form
Time
Possession