MARK 3000 Grantham - Cumulative study guide |
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1 Primary data 2 Marketing
3 Why is marketing important? 4 Price
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Terms in this set (133)
, Marketing Is an organizational function and a set of processes
for creating, capturing, communicating, and
delivering value to customers and for managing
customer relationships in ways that benefit the
organization and its stakeholders
Value Ratio what is given up for what is obtained; both
parties must believe they are getting value for
exchange to take place
Marketing mix: 4 P's 1. Product
2. Price
3. Promotion
4. Place
Product Creating value
- Through a variety of offerings, including goods,
services, and ideas to satisfy customer needs
Price Capturing value
- Price is everything a buyer gives up (money, time,
energy)
- Must be amount customer willing to pay which
gives a profit
Promotion Communicating value
- Communication that informs, persuades, and
reminds potential buyers about a product or
service to influence their opinions or elicit a
response
Questions with 100% Correct Answers | Verified |
Latest Update 2026
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Data collected specifically for this research; creating new information
Choose an answer
1 Primary data 2 Marketing
3 Why is marketing important? 4 Price
Don't know?
Terms in this set (133)
, Marketing Is an organizational function and a set of processes
for creating, capturing, communicating, and
delivering value to customers and for managing
customer relationships in ways that benefit the
organization and its stakeholders
Value Ratio what is given up for what is obtained; both
parties must believe they are getting value for
exchange to take place
Marketing mix: 4 P's 1. Product
2. Price
3. Promotion
4. Place
Product Creating value
- Through a variety of offerings, including goods,
services, and ideas to satisfy customer needs
Price Capturing value
- Price is everything a buyer gives up (money, time,
energy)
- Must be amount customer willing to pay which
gives a profit
Promotion Communicating value
- Communication that informs, persuades, and
reminds potential buyers about a product or
service to influence their opinions or elicit a
response
