SEM Ch 1 Vocab Flashcard

Front

4P's of Marketing:

Back

price, promotion, place, product

Front

Developing, promoting, and distributing products to satisfy customer needs.

Back

marketing

Front

Market for a product includes...

Back

Potential & existing customers.

Front

Statistics describing population characteristics

Back

demographics

Front

Study of choices affecting goods/services:

Back

economics

Front

GDP (gross domestic product)

Back

the value of all goods and services produced within a country

Front

The competition is...

Back

the struggle among companies for customers

Front

Legal protection of a creator’s intellectual property.

Back

Copyright

Front

Profit differs from revenue because...

Back

Profit is the money left after all costs and expenses are paid.

Front

Organizations must satisfy customers while achieving their goals.

Back

marketing concept