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Businesses develop a list of qualities that describes their target market

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Pencil

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Haircut

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An effort to inform, persuade, or remind potential customers about your product

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How much to charge for goods and services in order to make a profit

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Process of gathering info, storing it, and analyzing it

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Process of deciding how to physically get the goods to the customer using trucks, ship, etc.......

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The value added to products because of marketing

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WHICH OF THE FOLLOWING IS NOT ONE OF THE 5 P'S OF MARKETING-

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WHICH OF THE FOLLOWING IS NOT ONE OF THE 5 P'S OF MARKETING-

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Planning

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The S stands for strength

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Breaking the market down into smaller categories with similar characteristics

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-Financing
-Pricing
-Product/ Service Management
-Promotion
-Selling
-Channel Management
-Marketing Info Management

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Material items you can touch, have monetary value, and satisfy your wants and needs

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Include both goods and services

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Where the marketing strategies are directed to

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The total sales in a product category

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Increased demand allows manufacturers to produce in large quantities which reduces the
price of each

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EXCHANGE-                      Any time someone sells or buys something in the marketplace, an exchange takes place 

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EXCHANGE-                      Any time someone sells or buys something in the marketplace, an exchange takes place 

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SERVICES-          Intangible items that have monetary value and satisfy your wants and needs  

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SERVICES-          Intangible items that have monetary value and satisfy your wants and needs  

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A Market is people who share similar wants and needs AND have the ability to purchase a product

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POSSESSION UTILITY- The exchange of a product for some monetary value

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POSSESSION UTILITY- The exchange of a product for some monetary value

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TIME UTILITY-        Having the product available at a certain time of the year or a convenient time of the day 

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TIME UTILITY-        Having the product available at a certain time of the year or a convenient time of the day 

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PLACE UTILITY-      Having a product where customers can buy it

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PLACE UTILITY-      Having a product where customers can buy it

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FORM UTILITY-     Involves changing raw materials or putting parts together to make them more useful 

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FORM UTILITY-     Involves changing raw materials or putting parts together to make them more useful 