4.03 Key Terms-Business Essentials
Promotion
A marketing function needed to communicate information about goods, services, images, and/or ideas to achieve a desired outcome
Publicity
Any nonpersonal presentation of ideas, goods, or services that is not paid for by the company or individual that benefits from or is harmed by it
Advertising
Any paid form of nonpersonal presentation of ideas, goods, or services
Place
Marketing element focusing on considerations in getting a selected product in the right place at the right time
Product
Marketing element referring to what goods, services, or ideas a business will offer its customers
Price
Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products
Marketing
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Personal Selling
The form of promotion that determines client needs and wants and responds through planned, personalized communication that influences purchase decisions and enhances future business opportunities