FBLA-Marketing Questions And Answers Already Graded A+

marketing - process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives minor marketing activities - hearing, seeing, talking important marketing activities - storing products, distribution centers, accepting credit, and arranging means of online payment 7 fnts of marketing - marketing, financing, pricing, promotion, product/service management, distribution, and selling product/service management - designing, developing, maintaining, improving, and acquiring products and services that meet consumer needs distribution - 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 - obtaining, managing, and using market information to improve business decision making and the performance of marketing activities financing - budgeting for marketing activities, obtaining the necessary funds needed for operations, and providing financial assistance to customers so they can purchase the business' products and services pricing - setting and communicating the value of products and servicespromotion - communicating information about products and services to potential customers marketing strategy - a company's plan that identifies how it will use marketing to achieve its goals target market - specific group of consumers that have similar wants and needs marketing mix - blending of four marketing elements->product, distribution, price, and promotion marketing orientation - considers the needs of customers when developing a marketing mix final consumers - people who buy products and services mostly for their own good business consumers - persons, companies, and organizations that buy products for the operation of business, for incorporation into other products and services, or for resale to their customers consumer decision making process - 1. recognize a need 2. gather info 3. select and evaluate alternatives 4. make a purchase or decision 5. determine the effectiveness of the decision buying motives - emotional and rational