Introduction to Business & Marketing Vocabulary

Front

Business

Back

The aspects of making, selling, and providing products in exchange for money

Front

Economics

Back

The science of how individuals, businesses, and governments make decisions about satisfying unlimited wants with limited resources

Front

Good

Back

Tangible item produced and sold to consumers

Front

Idea

Back

A formulated thought or opinion

Front

Market research

Back

The process of gathering qualitative and quantitative data about consumers’ needs and wants

Front

Market share

Back

The percentage of the market for a product or service that a company supplies

Front

Marketing

Back

The process or technique of promoting, selling, and distributing a product or service

Front

Marketing concept

Back

A method of selling that involves analyzing customer wants and needs and aiming to fulfill them better than competitors

Front

Marketing function

Back

One of seven roles marketing has within a business, including distribution, financing, marketing information management, pricing, selling, product/service management, and promotion

Front

Marketing mix

Back

Factors of product, promotion, price, and place used to get target customers to purchase products