marketing concept
finaceing
necessary funds for a good or service
product/service
product or service is something g the consumer buys and gives the good or service owner finance
economic benifits of marketing
provides new products and low prices
Information Utility
Adding value by communicating with the consumer. Salespeople do this by explaining the features and benefits of a product. Packaging and labeling and advertising can all provide this utility.
Place Utility
Adding value to products by having them where people want them such as convenient and efficient locations. Catalogs and the Internet are examples.
Time Utility
Adding value to products by making them available when they're needed.
promotion
activity that supports or provides active encouragement for the furtherance of a cause, venture, or aim.
consumer market
as creating and selling products, goods and services to individual buyers, as opposed to trying to appeal to businesses. Commercials trying to sell toys or books or movies to the average individual are examples of consumer marketing.
goods
tangible items that have monetary value. and satisfy needs
promotion
the action of raising someone to a higher position or rank or the fact of being so raised.
pricing
the amount of finance of the good or service that always lower and raises.
price
the amount of money expected, required, or given in payment for something.
market share
the portion of a market controlled by a particular company or product.
distribution
the product takes a path to get to the consumer and buyer
utility
the state of being useful, profitable, or beneficial.
information utility
A central source of information for an organization or group.
customer profile
A description of a customer or set of customers that includes demographic, geographic, and psychographic characteristics, as well as buying patterns, creditworthiness, and purchase history.
marketing info management
A marketing information system (MkIS) is a management information system (MIS) designed to support marketing decision making. Jobber (2007) defines it as a "system in which marketing data is formally gathered, stored, analysed and distributed to managers in accordance with their informational needs on a regular basis."
market segregation
Market segmentation is a marketing strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries that have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them.
market segmentation
Market segmentation is the process of dividing an entire market up into different customer segments. Targeting or target marketing then entails deciding which potential customer segments the company will focus on.
Possession Utility
Possession Utility Providing ways for customers to conveniently purchase a product or offering alternative ways to pay such as lay away, credit cards, installment plans, etc.
possession utility
Possession utility is a term that explains and possibly measures the satisfaction that comes from owning a product or enjoying a service. In theory, there are just as many possession utilities as there are a growing number of goods and services.
time utility
The four types of economic utility are form, time, place and possession. "Utility" in this context refers to the value, or usefulness, that a purchaser receives in return for exchanging his money for a company's goods or services.
marketing concept
The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition.
form utility
The process of increasing the attractiveness of a product to a group of consumers by altering its physical appearance. In a business context, form utility might involve making a product ready for consumption by converting it to a form that is more beneficial to consumers than the raw materials used to make it.
target market
a particular group of consumers at which a product or service is aimed
consumers
a person who purchases goods and services for personal use.
place
a portion of space available or designated for or being used by someone.
market
a regular gathering of people for the purchase and sale of provisions, livestock, and other commodities.
selling
give or hand over (something) in exchange for money.
marketing
goods,ideas,services
individual market
individual marketing is defined as tailoring products and marketing programs to the needs and preferences of individual customers. In this marketing strategy, products are customized to suit each person.
services
integral and monetary items
