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MKT 315 INTRO TO MARKETING | MKT 315 MIDTERM EXAM (SPRING 2022)
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MKT 315 INTRO TO MARKETING | MKT 315 MIDTERM EXAM (SPRING 2022)
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MKT 315 MIDTERM EXAMB2C (business-to-consumer)
- the process in which businesses sell to consumers
B2B (business-to-business)
- the process of selling merchandise or services from one business to another
Marketing Mix
- Product, Price, Place, Promotion
Transaction
- A business deal or action; exchange of money, goods, or services
Exchange
- the trade of things of value between the buyer and the seller so that each is better off as a
result
Environmental forces
- social, economic, technological, competitive, regulatory
Environmental Scan
- Is an analysis of outside influences that may have an impact on an organization.
Evolution of Marketing
- Production Era
- Selling Era
, - Marketing Era
- Relationship Era
Marketing Concept
- is the business model that involves creating value and satisfying consumer needs not so
much to find the right customers for a product but to find the right products for the
customers.
Organizational buying demand
- purchases by organizations that are influenced by the consumer.
Ultimate consumers
- the people who use the goods and services purchased for a household
Profit Equation
- Profit = Total Revenue - Total Cost
Market Segmentation
- Dividing of the entire available market into groups of consumers with similar characteristics.
SWOT analysis
- identifying internal strengths (S) and weaknesses (W) and also examining external
opportunities (O) and threats (T)
Consumer Behavior
- The study of why personal, situational, psychological, and social interactions drive he
decision making process within individuals known as consumers
Motivation
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