Random Review
Random ReviewAnswer a question correctly, then roll the dice to
see how much your answer was worth.RulesYou will be paired up with
another student or twoYour team will have 10 seconds to answer the
question shown on the boardGet the question right and roll the dice
to see how many points you get for your precisionTry to avoid using
your notes
Tangible items of monetary value that satisfy needs &
wants.GoodsAn attribute of a product or service that makes it
capable of satisfying consumers wants & needUtilityGenerally,
what costs more, to gain a new customer or to keep an existing
customer?Gain a new customer.In marketing, these are the people who
use the productConsumersWhich economic utility is not considered a
marketing utility?Form utilityWhy is a reliable product &
customer service so important in marketing to businesses?Businesses
need the product to work in order to create their own profit.The
process of planning, pricing, promoting, selling, &
distributing products to satisfy customer needs &
wantsMarketingName 1 of the economic benefits of marketingNew &
improved productsLower pricesAdded valueIf John buys a Barbie doll
for his sister Joanna, John would be considered thisCustomerWhere
do exchanges take place?The MarketplaceAsking questions of a
companys employee and receiving answers would be considered this
economic utilityInformationalIntangible items of monetary value
that satisfy needs & wantsServicesA group of people identified
as most likely to become customersTarget Market
Why is it important to know your companys target market?Allows
you to market your product to the possible
consumers/customersHaving a website or a magazine available for
your customers to purchase goods would constitute this economic
utilityPlaceBusinesses should satisfy customers needs and wants
while making a profitThe Marketing ConceptAllowing customers to use
debit/credit cards enhances a companys goods through this
utilityPossession Name the 4 Ps of the marketing
mixPricePromotionPlaceProductIn marketing, the people that buy the
productCustomersSelling big, green pine trees for indoor use after
Thanksgiving would be an example of this utilityTimeHow does
marketing help reduce the price of goods?Increasing demand , which
allows a company to:Charge a lower price per unitSell more
unitsMake more moneyIncreases competition
A companys percentage of total sales volume generated by all
competition in a given marketMarket ShareA list of information
about a target market, such as income level, lifestyle, &
geographic residenceCustomer Profile
