Vocabulary Words

2. things that affect a single business operation
4. the activity, set of institutions and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners and society at large.
5. tangible items that have monetary value and satisfy your needs and wants
7. list information about the target market, such as age, gender, income level, marital status, etc.
12. Involving communication with the consumer
15. business-to-business market includes all businesses that buy products for use in their operations.
16. the effect that a market participant has when it buys or sells an asset
18. The market system involves a high degree of economic freedom, The market provides an incentive to acquire useful skills
19. the exchange of a product for money
22. an assessment that lists and analyzes the company’s strength and weaknesses. SWOT is an acronym for strengths, weaknesses, opportunities, and threats.
24. the idea that a business should strive to satisfy customers’ needs and wants while generating a profit for the business
26. consumers who purchase goods and services for personal use.
27. the means of getting the product into the customer's hands.
28. the attributes of goods or services that make them capable of satisfying consumers wants and needs

1. percentage of the total sales volume generated by all companies that compete in a given market.
3. an article or substance that is manufactured or refined for sale.
6. Products that may have more than one target markets.
8. four basic marketing strategies called the four p’s product place price and promotion.
9. developing a clear picture of their target market, businesses create a customer profile.
10. the process of deciding how to get goods to a customer
11. the process of dividing an entire market up into different customer segments
13. the group that is identified for a specific marketing program
14. refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle.
17. provides customers with goods and services they want
20. people who share similar needs and wants and who have the ability to purchase a given product
21. refers to activities related to advertising, personal selling, sales promotions, and publicity.
23. intangible items that have monetary value and satisfy your needs and wants.
25. what is exchanged for the product