1.02_MK2 Marketing Vocab

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Across
  1. 3. A marketing function that involves determining client needs and wants and responding through planned, personalized communication that influences purchase decisions and enhances future business opportunities
  2. 6. Any nonpersonal presentation of ideas, goods, or services that is not paid for by the individual or organization benefiting from or harmed by it
  3. 9. The process of comparing a business’s income statement with that of its competitors to see how it is doing by industry standards
  4. 10. Interrelated activities that must work together to get goods and services from producers to consumers
  5. 11. A marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities
  6. 13. The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
  7. 15. The general conditions in which people live; quality of life
  8. 20. A marketing function that involves creating strategies to attract the customer to a business, including setting goals, selecting target markets, creating budgets, forecasting sales, and performing analyses
  9. 21. The particular assortment of products that a business offers to meet the needs of its markets and its company goals
  10. 23. A marketing function that involves identifying, selecting, monitoring, and evaluating sales channels
  11. 24. A set of procedures or strategies for attracting the target customer to a business
  12. 25. A determination of a firm’s current business situation and the direction in which the business is headed; exploratory research conducted with the purpose of providing a more complete understanding of a problem and the total business environment in which it exists
  13. 27. The quantity of a good or service that buyers are ready to buy at a given price at a particular time
  14. 28. All the combined impressions and experiences associated with a particular company, good, or service
  15. 29. The rivalry between two or more businesses to attract scarce customer dollars
  16. 30. A marketing function that involves the determining and adjusting of prices to maximize return and meet customers’ perceptions of value
  17. 31. The people who make or provide goods and services
  18. 32. A systematic study of a specific market
Down
  1. 1. A marketing function that involves gathering, accessing, synthesizing, evaluating, and disseminating information to aid in business decisions
  2. 2. A process businesses use to prevent defective products from being created, not just to eliminate or correct them after they’ve already been produced
  3. 4. A marketing function needed to communicate information about goods, services, images, and/or ideas to achieve a desired outcome
  4. 5. An estimate of income and expenses for a specific period of time
  5. 7. Any paid form of nonpersonal presentation of ideas, images, goods, or services
  6. 8. Paths, or routes, that goods or services take from the producer to the ultimate consumer or industrial user
  7. 12. Promotional activities (other than advertising, personal selling, and publicity) that stimulate customer purchases
  8. 14. A business that buys materials, services, or goods that will be used to make other goods or used in the operation of the company
  9. 16. An economic system in which individuals and groups, rather than the government, own or control the means of production; also known as free market economy, private profit system, market system, capitalistic system, or free enterprise system
  10. 17. The particular group of customers a business seeks to attract
  11. 18. The stages through which goods and services move from the time they are introduced on the market until they are taken off the market
  12. 19. A marketing tool that investigates a business’s strengths, weaknesses, opportunities, and threats in an organized fashion
  13. 22. Monetary reward a business owner receives for taking the risk involved in investing in a business; income left once all expenses are paid
  14. 26. People who personally use a good or service to satisfy their own needs or wants; also known as final consumers