Communicating directly with potential customers to determine and satisfy their needs

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What is communicating directly with potential customers to determine and satisfy their needs?
Which marketing function involves communication directly with potential customers to determine their needs?
Which marketing function involves communicating with customers?
What is setting and communicating the value of products and services?

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Term	Definition
marketing	The activity, set of institutions, and process for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
marketing strategy	A company's plan that identifies how it will use marketing to achieve its goals.
target market	A specific group of consumers who have similar wants and needs.
marketing mix	Is the blending of 4 marketing elements- products, distribution, price, and promotion.
marketing orientation	Considers the needs and wants of customers when developing a marketing mix.
final consumers	Are people who buy products and services mostly for their own use.
business consumers	Are people, companies, and organizations that buy products for the operation of a business, for incorporation into other products and services, or for resale to their customers.
consumer decision making process	The specific sequence of steps consumers follow to make a purchase.
buying motives	The reasons consumers decide what products and services to purchase.
marketing research	Finding solutions to problems through carefully designed studies involving consumers.
product	Is everything a business offers to satisfy a customers needs.
services	Activities that are consumed at the same time they are produced.
intangible	Having no physical form.
inseparable	Are consumed at the same time they are produced.
perishable	The availability of a service must match the demand for that service at a specific time.
heterogeneous	that there will be differences in the type and quality of service provided.
price	the money a customer must pay for a product or service.
distribution	the locations and methods used to make a product or service available to the target market.
channel of distribution	The route of a product follows and businesses involved in moving a product form the producer to the final consumer.
channel members	The businesses that take part in a channel of distribution
promotion	Any form of communication used to inform, persuade, or remind.
effective communication	The exchange of information so there is common understanding by all participants.
personal selling	Direct individualized communication with prospective customers to asses their needs them in satisfying those needs with appropriate products and services.
advertising	Any paid form of communication through mass media directed at identified consumers to provide information and influence their actions.
product and service management	designing, developing, maintaining, improving, and acquiring products and services that meet consumer needs.
distribution	involves determining the best ways for customers to locate, obtain, and use the products and services of an organization.
selling	communicating directly with potential customers to determine and satisfy their needs.
marketing information management	is obtaining, managing, and using market information to improve business decision-making and the performance of marketing activities.
financial analysis	budgeting for marketing activities, obtaining the necessary funds needed for operations, and providing financial assistance to customer so they can purchase the business' products and services.
pricing	setting and communicating the value of products and services.
promotion	communicating information about products and services to potential customers.
emotional buying motives	reasons to purchase based on feelings, beliefs, and attitudes.
rational buying motives	guided by facts and logic.
secondary research	analyzing existing information gathered for another purpose but used to solve a current problem.
primary research	studies carried out to gather new information specifically directed at a current problem.
selling price	the price paid by the customer for the product.
product costs	are the costs to the manufacturer of producing the product or the price paid by other businesses to buy the product.
operating expenses	all expenses of operating the business that are associated with the product.
profit	amount of money available to the business after all costs and expenses have been paid.
gross margin	the difference between the selling price and the product costs.
markup	the amount added to the cost of a product to set the selling price.
markdown	a reduction from the original selling price
direct channel of distribution	products move from the producer straight to the consumer with no other organizations participating.
indirect channel of distribution	includes one or more other businesses between the producer and consumer.
retailers	the financial business organization in an indirect channel of distribution for consumer products.
personalized promotion	communicates directly with each customer using information tailored to that person.
mass promotion	communicates with many people at the same time with a common message.
publicity	non-paid promotional communication presented by the media rather than by the business or organization that is being promoted.
public relations	an ongoing program of non-paid and paid communications.
sales promotion	includes activities and materials designed to reinforce a company's brand and image.

What is communicating directly with potential customers to determine and satisfy their needs?

Marketing function that involves communicating directly with potential customers to determine and satisfy their needs. Consumers who buy products for incorporation into other products or to sell to others.

Which marketing function involves communication directly with potential customers to determine their needs?

Direct marketing consists of any marketing that relies on direct communication or distribution to individual consumers, rather than through a third party such as mass media. Mail, email, social media, and texting campaigns are among the delivery systems used.

Which marketing function involves communicating with customers?

Which marketing function involves communicating directly with potential customers to determine their needs? advertising. the difference between the selling price and the product costs. evaluate the ideas to determine which have the best chance to be successful.

What is setting and communicating the value of products and services?

POBF Unit 3 Vocabulary.

Communicating directly with potential customers to determine and satisfy their needs

What is communicating directly with potential customers to determine and satisfy their needs?

Which marketing function involves communication directly with potential customers to determine their needs?

Which marketing function involves communicating with customers?

What is setting and communicating the value of products and services?

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