Marketing 151: Chapter 1, Key Information | MKTG - Business Marketing, Quizzes of Marketing Business-to-business (B2B)

Download Marketing 151: Chapter 1, Key Information | MKTG - Business Marketing and more Quizzes Marketing Business-to-business (B2B) in PDF only on Docsity! TERM 1 #1 Rule of Marketing? DEFINITION 1 For every $1 spent in marketing, we can return $1+ TERM 2 Marketing means to... DEFINITION 2 Sell something TERM 3 The 4 "P's" of Marketing are DEFINITION 3 ProductPricePlacePromotion TERM 4 The term "Product" means... DEFINITION 4 A good/itemA serviceAn idea TERM 5 means... DEFINITION 5 Is the price a good value. TERM 6 Value with Price means... DEFINITION 6 Perceived value.For example:Wal-Mart, perceived value is lowest price, lowest qualityMercedes-Benz, perceived value is high, quality is perceived highIKEA, the perceived value is average/good and quality is perceived average-good TERM 7 Place means... DEFINITION 7 All activities necessary to get the product to the customer. TERM 8 Promotion means... DEFINITION 8 Communicate to the world that the product/service exists! TERM 9 DEFINITION 9 Means Business-to-Business sales TERM 10 DEFINITION 10 Means Business-to-Consumer sales