This bingo card has a free space and 24 words: Marketing involves the process of planning, pricing, promoting, selling, and distributing, What is Marketing?creating and maintaining relationships between producers and consumers!, Place Utility:Making a product or service available at a convenient location where consumers can easily purchase it., If customers deem that a product has added utility (added value) to their lives, they will be more likely to purchase the product., Information:Using communication and information to make the product attractive to consumers., 7 Functions of Marketing: Product: This function focuses on developing, maintaining, and improving products or services to meet customer need, Services are intangible(meaning you can't physically touch them), Promotion:Any element of communication used to inform, persuade, or remind customers about your product., Marketing makes it easy to bridge the gap between producers and consumers and makes it easy for customers to buy products, Customer Value=Economic Utility, Non profit organizations do not earn any profits for its owners, Economic Utilities The amount of satisfaction a consumer gets from a product or services., 4 P's of Marketing Price, Product, Place, Promotion, The marketing concept should work to satisfy customer needs and wants while generating a profit for the business., marketer, one of your main jobs is changing/adapting your marketing strategy to adapt to current trends and customer attitudes, Competition forces companies to create better products, Form: The value added by changing a product's physical form to make it more useful., marketing seeks to match a company's products and services to customers who want those products., MIM: The process of collecting, analyzing, and using data about a market, customers,, Distribution: Deciding on how to get products or services to customers,, Goods are tangible (meaning you can touch it) items that have monetary value and satisfy a customer’s wants and needs., Time Utility Providing products or services at the time consumers need or want them., Possession:The value gained by a consumer when they acquire ownership of a product or service. and The marketing of services relies heavily on recommendations and word-of-mouth.
SUNY Marketing | SUNY Marketing | SUNY Marketing | SUNY Marketing | SUNY Marketing
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