Unit MC001

5. Monetary reward a business owner receives for taking the risk involved in investing in a business; income left once all expenses are paid
7. A function of business designed to establish and maintain positive relationships between the business and its various publics, or fan bases
8. Promotional activities (other than advertising, personal selling, and publicity) that stimulate customer purchases
9. Any item that is used to accomplish another activity, such as producing/providing goods and services
13. An advantage consumers receive from using a product
14. The money received by resource owners and by producers for supplying goods and services to customers
16. Any nonpersonal presentation of ideas, goods, or services that is not paid for by the individual or organization benefiting from or harmed by it
17. The message channels used by a seller to promote a good, service, or idea (e.g., radio, television, newspapers, magazines, internet)
20. The form of promotion that determines client needs and wants and responds through planned, personalized communication that influences purchase decisions and enhances future business opportunities
23. The arrangement by which businesses or individuals can purchase now and pay later

1. A philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying customer wants and needs while achieving company goals
2. Marketing element referring to the various types of communication that marketers use to inform, persuade, or remind customers of their products
3. A deduction from the price of goods
4. The degree of excellence of a good or service—how good it is
6. The amount of satisfaction a good or service will provide a customer
8. Plans of action for achieving goals and objectives
10. Specific actions that will be used to carry out strategies
11. The combination of the four elements of marketing—product, place, promotion, and price
12. A fact about or characteristic of a product
15. An objective or want that you plan to fulfill; a statement that clearly describes a task to be accomplished
18. Any paid form of nonpersonal presentation of ideas, images, goods, or services
19. A promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected
20. Marketing element focusing on considerations in getting a selected product in the right place at the right time
21. The money that a business spends
22. Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products