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Marketing essentials 1 Graham
Chapter 1
12
Marketing
11th Grade
10/02/2013

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Term
Marketing
Definition
the process of planning,pricing,promoting,selling, and distibuting ideas,goods,or services.
Term
Goods
Definition
tangible items that have monetary value and satisfy your needs and wants.
Term
services
Definition
Intangible items that have menetary value and satisfy your needs and wants.
Term
Marketing concept
Definition
Idea that a bussiness should strive to satisfy custoumers needs, and wants while generating a profit for the firm.
Term
Utility
Definition
The attributes of a product or service that make it capable of satisfying consumers wants and needs.
Term
Market
Definition
All people who share similar needs and wants and who have the ablity to purchase a given product.
Term
Consumer market
Definition
consits of consumers who purchase goods and services for personal use.
Term
Industrial market
Definition
business to business market include all business' that buy products for use in their operations.
Term
Market share
Definition
The percentage of the total sales volume generated by all companies that compete in a given market.
Term
target market
Definition
the group that is identified for a specific marketin program.
Term
cousomer profile
Definition
lists information about the target matket, such as age, income level, ethnic background, occupation, income level.
Term
Marketin mix
Definition
Four basic maketin strarigies called four Ps, place, price, and promotion.
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