MKT 201 Terms for exam 1 (chapters 1-4) questions and answers Graded A+

MKT 201 Terms for exam 1 (chapters 1-4) questions and answers Graded A+ Marketing The process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment Customers The purchasers of organizations' products; the focal point of all marketing activities Target market A specific group of customers on whom an organization focuses its marketing efforts Marketing mix Four marketing activities: product, pricing, distribution, and promotion, that a firm can control to meet the needs of customers within its target market Product A good, a service, or an idea