Marketing long quiz reviewer

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24 Terms

1

marketing

an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders

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2

market planning

identifying and understanding the markets a company wants to serve and developing effective marketing strategies for each market.

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3

product and service management

assisting in the design and development of products and services to meet the needs of prospective customers.

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4

distribution

determining the best methods and procedures to be used so prospective customers are able to locate, obtain, and use the products and services of an organization.

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5

pricing

establishing and communicating the value of products and services to prospective customers.

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6

promotion

communicating information to prospective customers through advertising and other promotional methods to encourage them to purchase the organizations products and services.

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7

selling

direct, personal communications with prospective customers in order to assess need and satisfy those needs with appropriate products and services

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8

marketing information management

obtaining, managing, and using market informating to improve decision making and the performance of marketing activities.

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9

financing

budgetting for necessary financing and providing financial assistance to customers to assist them with purchasing products and services.

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10

risk management

providing security for products, personnel, and customers and reducing the risk associated with marketing decisions and activities.

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