Chapter 5 Marketing Essentials

5. process of creating, growing, manufacturing, or improving on goods and services
6. government-financed agencies, ex. Social Security, Medicare
8. focuses on sale price of a product
9. consumer willingness and ability to buy products
10. word, name, symbol, sound, or color that identifies a good or service
16. amount of goods producers are willing to make or sell
18. something to get on an invention which gives you alone the rights that item or idea
19. businesses choose to compete on the basis factors that are not related to price
20. process of achieving company goals by effective use of resources through planning, organizing, and controlling
21. the potential for loss or failure
22. obtain goods from manufactures and resell them to organizational users, other wholesalers, or retailers
23. buy goods from wholesalers or directly from manufacturers and resell them to the customer
24. business that sells its products only in its own country
25. businesses not associated with government agencies
26. discipline that keeps track of a company's finance situation

1. the struggle for customers
2. organizational market based on the demand for consumer goods and services
3. seeks to make profit from its operations
4. exclusive control over a product or the means of producing it
7. consists of a group of establishments primarily engaged in producing or handling the same product or group of products or in rendering the same services
11. business that sells its products in more than one country
12. money earned from conducting business after all costs and expenses have been paid
13. business ownership by ordinary people, not the government
14. involves anything that is authored by an individual, such as writings, music, & artwork
15. functions like a business but uses money it makes to fund the cause identifies in its charter
17. function of business that involves money management