a business person sells products or services to make a profit

• convenience good

• direct distribution

• business entrepreneurs

• diseconomies of scale

This involves the process and methods used to gather information, analyze it, and report findings related to marketing goods and services

• Survey Creation
• Marketing Research
• Advertising Selection
• Marketing Discovery

good that consumers don't want to spend much time and effort on

• impulse goods

• nondurable goods

• specialty goods

• convenience good

Occurs when a company competes with other companies offering products that are not in the same product category.

• Indirect Competition

• Direct Competition

• Price Competition

• Non-Price Competition

Emphasizing features, quality and packaging of a product over competitor's products.

• Direct Competition

• Indirect Competition

• Price Competition

• Non-Price Competition

when a product is sold from the manufacturer to the end consumer, with no wholesale or retail companies in between

• direct competition

• empowerment

• direct distribution

• convenience good

products that last for a long time

• durable goods

• impulse goods

• nondurable goods

• specialty goods

ways that a company can lower the cost per unit

• empowerment

• economies of scale

• entrepreneur

• target audience

occurs when individuals in a business are given authority, trust, and encouragement to accomplish a task

• entrepreneur

• economies of scale

• empowerment

• extrinsic rewards

a person who starts his or her own business, instead of working for someone else

• empowerment

• entrepreneur

• economist

• economies of scale