Marketing Vocab. pg 2-23

7. how much to charge for a product to make a profit
9. intangible items with monetary value and satisfy your wants & needs
10. the exchange of a product for money
15. the good that a business is selling
17. a global force that affects the economy and standard of living in countries around the world
18. consists of consumers who purchase goods and services for personal use
19. includes all businesses that buy products for use in their operation
21. the positive impact of marketing on the economy
22. information about the target market
24. providing customers with the goods and services they want
25. where the product or service is available
26. all people who share similar needs and wants and who have the ability to purchase a given product
27. the amount of money that the product or service is being sold for
28. involves having a product or service available at a convenient time of year
30. involves changings raw materials into usable goods

1. obtaining developing, maintaining, and improving a product in response to market opportunities
2. understanding the concepts and strategies used to develop and target specific marketing strategies to a select audience
3. tangible items with monetary value and satisfy your wants & needs
4. the process of dividing an entire market up inti different customer segments
5. involves communication with the consumer
6. the group that is identified for a specific marketing program
8. attributions of goods or services that make them capable of satisfying consumers’ wants and needs
11. Decisions about advertising, personal selling, sales promotion, and public relations used to attract customers
12. An assessment that lists and analyses the company’s strengths and weaknesses. Strength, Weaknesses, Opportunities, and Threats
13. Concept the idea that a business should strive to satisfy customers’ needs and wants while generating a profit
14. A system that involves finding customers and keeping them satisfied
16. its percentage of the total sales volume generated by all companies that compete in a given market
20. the process of deciding how to get goods into customers’ hands
23. involves having a product where customers can buy it
29. Gathering and analyzing information about customers, trends, and competing products