Marketing 1.01

What does the selling function involve that makes it so important?

-Contacting customers

By increasing awareness of the need for environmental controls, what has marketing done?

-Improved the quality of life

Company XYZ has predicted it will sell 3,000 new microwaves during the "Back to School" sale. Which marketing function is this business using?

-Market planning

Which marketing function helps business people forecast how much will be sold in a given period?

-Market planning

What does applying the customer-orientation element of the marketing concept enable the business to do?

-Offer products that consumers want to buy

After the popularity of a product dropped, the business needed a new product to promote that would help to improve its image. Which marketing function would come up with the new product?

-Product/Service management

Paul's plant food is losing its popularity among his customer base. What marketing function would come up with the improved product?

-Product/Service management

According to the marketing concept, which option shows company commitment

-Setting aside funds to research what customers want

What is Marketing?

All activities to get product from manufacturer to consumer that are guided by consumer's wants and needs

Customer Orientation

Business focus on building relationships w/ customers to facilitate loyal, repeat customers for life.

Promotion

Communication that is used to inform, persuade, or remind customers about a business's products. (Advertising

Customer Needs / Wants

Desires of the consumers that convert into purchases

Explain where marketing occurs.

EVERYWHERE!!!!!!!!!!!

Customer Satisfaction

Meet or exceed customer's expectations

Services

intangible purchases Consumer vs. Industrial

Communication Skills

interacting with people and organizations

Professional Development

ongoing growth within a career path

Economics

study of allocating resources to maximize their uses

Business, Management, Entrepreneurship

study of operating and managing a business & all the skills and concept necessary

Goods

tangible purchases