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Chapter 1 | MKTG - Marketing 1 - Introduction, Quizzes of Principles of Marketing

Class: MKTG - Marketing 1 - Introduction; Subject: Marketing; University: SUNY Westchester Community College; Term: Forever 1989;

Typology: Quizzes

2014/2015

Uploaded on 01/24/2015

davidlago104
davidlago104 🇺🇸

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TERM 1
Customer Value
DEFINITION 1
Is the unique combination of benefits received by targeted
buyers that includes quality convenience on time delivery
and both before sale and after sale service at a specified
price
TERM 2
Environmental Factors
DEFINITION 2
Consist of the uncontrollable social economic technological
competitive and regulatory forces that affect he results of a
marketing decision
TERM 3
Exchange
DEFINITION 3
Is the trade of things of value between buyer and seller so
that each is better off after the trade
TERM 4
Market
DEFINITION 4
consists of people with both the desire and the ability to buy
a specific offering
TERM 5
Market Orientation
DEFINITION 5
occurs when an organization focuses its efforts on
continuously collecting information about customer's needs
& sharing this information across departments and using it to
create customer value
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Customer Value

Is the unique combination of benefits received by targeted buyers that includes quality convenience on time delivery and both before sale and after sale service at a specified price TERM 2

Environmental Factors

DEFINITION 2 Consist of the uncontrollable social economic technological competitive and regulatory forces that affect he results of a marketing decision TERM 3

Exchange

DEFINITION 3 Is the trade of things of value between buyer and seller so that each is better off after the trade TERM 4

Market

DEFINITION 4 consists of people with both the desire and the ability to buy a specific offering TERM 5

Market Orientation

DEFINITION 5 occurs when an organization focuses its efforts on continuously collecting information about customer's needs & sharing this information across departments and using it to create customer value

Marketing

is the activity for creating communicating delivering and exchanging offerings that benefit the organization, its stakeholders and society at large TERM 7

Marketing Concept

DEFINITION 7 is the idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organizations goals TERM 8

Marketing Mix

DEFINITION 8 The 4 P'sproductplacepricepromotion TERM 9

Market Program

DEFINITION 9 is a plan that integrates the marketing mix to provide a product service or idea to prospective buyer TERM 10

Organizational Buyers

DEFINITION 10 are those manufacturers wholesalers retailers and government agencies that buy products and services for their own use or for resale