Introduction to Marketing and Goods Flow Management

These flashcards cover key concepts of marketing and goods flow management as discussed in the lecture notes.

What is the primary goal of marketing?

To align internal business activities with the desires and needs of potential consumers.

Which activities are considered important marketing activities?

Identifying market needs, setting product requirements, pricing, designing distribution channels, and presenting product options.

What are the four P's of marketing?

Product, Price, Promotion, and Place.

What is a push market?

A market where supply exceeds demand, allowing producers to dictate terms.

What distinguishes a pull market from a push market?

In a pull market, demand exceeds supply, leading consumers to pull products into the market.

What term describes the flow of goods from suppliers to consumers?

Goods flow or supply chain.

What factors can influence market segmentation?

Consumer preferences, demographic factors, and purchasing behavior.

What is meant by the terms 'specialization' and 'integration' in a business context?

Specialization refers to focusing on a limited range of products, while integration refers to controlling multiple stages of production or distribution.

What are primary and secondary data in market research?

Primary data is collected firsthand for a specific purpose, while secondary data is existing information collected for other purposes.

How can you define customer service in a business context?

All marketing activities directed at customers after an order has been established.