Marketing & Operation

4. LAYOUT — Systematic layout of facilities to optimize production flow.
5. — Strategy that differentiates a product to create a distinct market image.
7. PRICING — Pricing based on what customers are willing to pay (value-based pricing).
8. (or PRODUCT SPECIFICATION) — Document detailing how a product will be manufactured/assembled.
9. — Non-personal promotion through paid media.
12. — Product life-cycle stage where sales peak and competition is intense.
13. — The process of identifying, anticipating, and satisfying customer needs profitably.
14. — Measure of how well resources are used to achieve objectives.

1. MIX — The set of controllable tactical tools (product, price, place, promotion).
2. MARKETING — Marketing focused on long-term customer relationships.
3. — The tangible or intangible item offered to satisfy needs.
4. — Converting inputs into outputs efficiently.
6. — TQM principle emphasizing continuous improvement.
10. CHANNEL — Flow of goods from producers to consumers through intermediaries.
11. — Selecting, training, and evaluating personnel in operations.