Marketing 255

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Last updated 6:16 PM on 8/26/26
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9 Terms

1
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What is Marketing?

Process of exchange: firms seek to maxmize profit and consumers seek to maximize utility.

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Customer Lifetime Value (CLV)

Total amount of money a customer is expected to spend with a business over the entire time they remain a customer.

3
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4 P’s of marketing

  1. Product

  2. place

  3. price

  4. promotion


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Product

What are you selling?

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Price

How much does it cost? Value=cost/price

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Place

Where can customers buy it

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Promotion

How will customers learn about it?

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Push and Pull marketing: Push

Focus on retailers and pushing product in store infront of customers.

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Push and Pull Marketing: Pull

Creates demand for product focusing on cutomers and making them want to buy the product.