Intro to Business 11.1 & 11.2

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Across
  1. 3. The blend of product offering, pricing, promotional methods, distribution system, and strategies for utilizing people that creates an offering that brings a specific group of consumers superior value.
  2. 5. A set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition; also called differential advantage.
  3. 6. The process of discovering the needs and wants of potential buyers and customers and then providing goods and services that meet or exceed their expectations.
  4. 8. Something given in exchange for a product
  5. 11. The customer’s feeling that a product has met or exceeded expectations.
  6. 15. The ratio of benefits to the sacrifice necessary to obtain those benefits, as determined by the customer; reflects the willingness of customers to actually buy a product.
Down
  1. 1. Methods for informing and influencing customers to buy the product. Includes several different components – traditional advertising, sales promotion, public relations, personal selling, social media, and e-commerce.
  2. 2. The process in which two parties give something of value to each other to satisfy their respective needs.
  3. 4. Identifying consumer needs and then producing the goods or services that will satisfy them while making a profit for the organization.
  4. 7. The traditional 4Ps of marketing: product, price, promotion, place (distribution), now with people added as a key marketing component, which together make up the marketing mix.
  5. 9. A strategy that focuses on forging long-term partnerships with customers by offering value and providing customer satisfaction.
  6. 10. Methods of utilizing organization employees to support the marketing strategies of the company.
  7. 12. The specific group of consumers toward which a firm could direct its marketing efforts. It is often divided into segments so that marketing strategies can be directed to a more specific target.
  8. 13. In marketing, a good, service or idea, along with its perceived attributes and benefits, that creates value for the customer.
  9. 14. Some method of getting the product from the creator of the product to the customer. Includes a myriad of important tasks: transportation, location, supply chain management, online presence, and inventory.