E&S Marketing Test 1

what is a type of business ownership
sole proprietorship,partnership,corporation
Before businesses identified target marketers to promote their products,what strategy was more common
mass marketing
what type of decision involves how goods or services are communicated to the consumer
promotion
What is part of the marketing mix
product,price,promotion
what is part of the marketing process
development,promotion,distribution
What is the study of choices and decisions that affect making,distributing, and using goods and services
economics
competition that is based on price follows the concept of this and available substitutes
demand elasticity
organizations spend lots of money to learn about what
needs and wants of potential costomers
What protects property ownership and intellectual property rights
copyright,patent,trademark
when businesses show this,they are contributing to the GDP
profit
struggle among companies for customers
competition
value of all goods and services produced within a country
GDP
idea that organizations need to satisfy their customers while also trying to reach their organizational goals
marketing concept
form of business ownership
subchapter S corporation
money left over after all expenses of a business are paid
profit
specific group of consumers that an organization selects as the focus of its marketing plan
target market
process of developing,promoting,and distributing products,or goods and services to satisfy customers’ needs and wants
marketing
route a product takes from the producer to the consumer
channel of distribution
potential customers with shared needs who have the desire and ability to buy a product
market
statistics that describe a population in terms of personal characteristics
demograohics