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b essentials exam 11, 12 Flashcards

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7580404462"Never interrupt your enemy when he is making a mistake!"Napoleon Bonaparte0
7580414128MarketingActivities designed to increase business (transactions) by Creating, Distributing, Pricing & Promoting Products & Ideas.1
7580418977The (Market) Exchange Process (Value):seller to buyer and buyer to seller, with money trade, credit etc2
7580426327The four activities that a company can control. 4Ps MARKETING MIXPrice Product Placement Promotion3
7608766894Selling as a marketing functionpersuasiveness thru promotions4
7608771077customer relations as a marketing functioncommunication, info & contact5
7608777563transporting as a marketing functionmoving product from seller to buyer6
7608781446storing as a marketing functionreadiness and warehousing7
7608784553grading as a marketing functiondividing product in groups; labeling8
7608787002financing as a marketing functioncreating opportunities thru credit9
7608796475marketing research as a marketing functiondetect the market's needs & direction10
7608801068risk taking as a marketing functionincluding the loss possibilities11
7608811110marketing strategyThe plan of action for the creating, distributing, pricing & promoting products that meet the needs of a specific market.12
7608813046Market (Population):Group of people who have specific tastes, needs, purchasing power, and the desire and authority to spend money on products and ideas that serve those specific tastes and needs13
7608816278target marketGroup of consumers whose specific taste, needs, purchasing power, and the desire and authority to spend money represent the focus of the company's marketing efforts.14
7608819132total market approachWhen a company tries to appeal to everyone and assume that buyers will have similar and/or common needs.15
7608831282marketing segmentationStrategy where the organization's marketing efforts focus on groups of people who have relatively similar product needs.16
7608834536demographicAge Gender Race Ethnicity Income Religion17
7608846508geographicCity Region Climate Terrain Country Density18
7608866193psychographicPersonality Values Culture SocialNorms Lifestyle19
7608878334behavioristicLocal/Historical Traditions Product Use Choice20
7608893577marketing processidentify, conduct, identify target, implement, customer relationship, analyze21
7608913658Production Orientation EraIndustrial Revolution to 1920s22
7608918892Sales Orientation EraMid-1920s to Early 1950s23
7608925817Market Orientation Era1950s to Early 1990s24
7608929639Customer Orientation Era1990s to Present25
7608934254Primary SourcesObservation • Questionnaires • Surveys • Focus groups • Interviews • Customer Feedback • Sampling • Controlled Experiments26
7608937086secondary sourcesWeb Trends • Internet Consumer Trends • Government Publications • Commercial Publications • Organizational publications • Magazines • Newspapers ☺ • Internal Sources • ... The Grape Vin27
7608946925Psychological Variables buyer behaviorPerception Learning Personality Motivation Attitude28
7608950783Social VariablesReference Groups Social Classes Culture29
7704037627Product Dev. StrategyIdea Generation New Idea Screening (Market Research) Concept Testing Business Analysis (Business Plan) Product Development Test Marketing (e.g. Sampling) Commercialization-goal30
7704042969Consumer Products:Convenience Shopping Specialty31
7704045796Business Products:Raw Materials (Goods) Accessory Equipment Major Equipment Component Parts Processed Materials Supplies Industrial Services32
7704048200Product Line:Group of closely related products which are treated as a unit and involve similar Marketing Strategy.33
7704050022Product Mix:All products (variations & categories) offered by an organization.34
7704056272look at product life cycleactually look megan35
7704059578Identifying Products byBrand Packaging Quality Labeling36
7704064320Pricing Your ProductIdentify Target Market (Customers) Identify & Analyze the Competition Determine Competitive Avg Set Prod Value Based on CA37
7704073311New Product Pricinglow to high38
7704074644Psychological Pricingemotional39
7704077240Reference Pricingcomparing40
7704080200Discount PricingMove_or_Push41
7704084083Marketing ChannelsRetailers Wholesalers42
7704086068Intensity of Market CoverageIntensive Selective Exclusive43
7704089432Promotion StrategyAdvertising Publicity Personal_Sales Sales_Promos44
7704092391Push vs pullPromotional Positioning45

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