Ch 1 Marketing Vocab

Dynamic activities that identify, anticipate, and satisfy customer demand while making a profit.

• Marketing Concept

• Marketing

• Promotional Mix

• Market Planning

Something necessary for survival (food, clothing, shelter).

• Need

• Want

• Good

• Service

Something that a person desires, but could live without.

• Service

• Idea

• Want

• Need

A good, service or idea.

• Consumer

• Channel

• Market

• Product

A physical item that can be touched.

• Service

• Good

• Idea

• Utility

An action that is done for you, usually for a fee.

• Idea

• Good

• Service

• Promotion

A concept, cause, issue, image, or philosophy.

• Idea

• Good

• Service

• Place

A person who helps determine the marketing needs of a company, develops and implements marketing plans, and focuses on customer satisfaction.

• Consumer

• Marketing Professional

• Marketing Information Management

• Target Market

A customer who buys a product for his or her own use.

• Marketing Professional

• Business-to-Consumer Market

• Consumer

• Business-to-Business Market

An approach to business that focuses on satisfying customer needs and wants while achieving profit goals for the company.

• Marketing

• Profit

• Market Planning

• Marketing Concept