The process of establishing and communicating to customers the value of cost of goods and services.

Apple consistently responds to consumer wants by modifying the iPhone with new features that help their daily lives.

Name that function: Reminding customers about your products through advertising activities such as social media marketing, commercials and billboards.

The hot Christmas toy for children jumped in price from $35.99 to $54.99 because consumer demand increased, therefore suppliers could charge more and parents were willing to pay that to make their children happy.

Obtaining, developing, maintaining, and improving a product or product line to respond to customer needs and wants.

The pricing function is best described as

Name that function: Gathering information about what consumers want in order to make informed business decisions.

Responding through planned, personalized communication is considered which function?

Assessing customer needs to determine the perfect type of running shoe for the customer's upcoming half marathon.

Pricing affects....

True or False. It is best if a company tries to target every possible customer.

Promotion is important because it....

A small restaurant upgrades its inventory tracking and menu ordering system in order to better serve their customers and to order the correct food items each week.

Product/Service management also...

Any form of communication used to inform, persuade, or remind people about a business's products.

Lisa is responsible for checking in all inventory at Subway and making sure the food products get rotated and stored properly.

There are how many marketing functions?

Making decisions about where to sell the product, how it gets there, and storage for the product.

A retail store employee puts a pair of shoes on a customer and asks the customer if the shoe fits right.

Marketing info management can best be described as what?

The rapper Eminem appears on a talk show to discuss his new album launching. They ask him to share information about the singles on the album and the creative process behind the production of the album.

Product/_______ management is all about controlling and managing products.

Name that function: Ending amount charged with .99 to give the illusion of savings while still maintaining profit margins.

A retailer decides to mark down all swimsuits in August.

In the notes which product was used as a supply and demand example?

A retailer decides to mark down the store's selection of swimsuits in August.

Getting the products into the customers' hands is which function?

Which of the following best summarizes the definition of marketing?

Companies must offer products that customers ______ and _____

Requires a company to budget for its own marketing activities and assists customers in paying for the company's products.