MKT 3010 Flash Cards Exam

The benefits a customer receives from buying a good or service

The activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large.

Buyers, sellers, or investors in a company, community residents and even citizens of the nations where goos and services are made or sold -- in other words any person or organization that has "stake" in the outcome

The ultimate user of a good or service

A management orientation that focuses on identifying and satisfying consumer needs to ensure the organization's long-term profitability

The recognition of nay difference between a consumer's actual state and some ideal or desired state

The desire to satisfy needs in specific ways that are culturally and socially influenced

The outcome sought by a customer that motivates buying behavior--that satisfies a need or want

Customers' desires for products coupled with the resources needed to obtain them

All the customers and potential customers who share a common need that can be satisfied by a specific product, who have the resources to exchange for it, who are willing to make the exchange and who have the authority to make the exchange

Any location or medium used to conduct an exchange 

The usefulness or benefit consumers receive from a product

The process by which some transfer of value occurs between a buyer and a seller

A management philosophy that emphasizes the most efficient ways to produce and distribute products

A managerial view of marketing as a sales function or a way to move products out of warehouses to reduce inventory