Marketing Vocab. pg 2-23

4. providing customers with the goods and services they want
9. A system that involves finding customers and keeping them satisfied
10. its percentage of the total sales volume generated by all companies that compete in a given market
11. the amount of money that the product or service is being sold for
12. involves having a product where customers can buy it
14. a global force that affects the economy and standard of living in countries around the world
16. the process of deciding how to get goods into customers’ hands
18. the process of dividing an entire market up inti different customer segments
20. the good that a business is selling
21. involves communication with the consumer
23. attributions of goods or services that make them capable of satisfying consumers’ wants and needs
24. understanding the concepts and strategies used to develop and target specific marketing strategies to a select audience
27. the group that is identified for a specific marketing program
29. information about the target market
30. involves changings raw materials into usable goods

1. consists of consumers who purchase goods and services for personal use
2. where the product or service is available
3. tangible items with monetary value and satisfy your wants & needs
5. the positive impact of marketing on the economy
6. involves having a product or service available at a convenient time of year
7. obtaining developing, maintaining, and improving a product in response to market opportunities
8. how much to charge for a product to make a profit
13. Gathering and analyzing information about customers, trends, and competing products
15. includes all businesses that buy products for use in their operation
17. An assessment that lists and analyses the company’s strengths and weaknesses. Strength, Weaknesses, Opportunities, and Threats
19. all people who share similar needs and wants and who have the ability to purchase a given product
22. Concept the idea that a business should strive to satisfy customers’ needs and wants while generating a profit
25. the exchange of a product for money
26. Decisions about advertising, personal selling, sales promotion, and public relations used to attract customers
28. intangible items with monetary value and satisfy your wants & needs