SEM LAP 4 Vocab

What word best describes: An estimate of income and expenses for a specific period of time

• Budget

• Data

• Customer service

• Distributor

What word best describes: Activities and benefits provided by a business to its customers to create goodwill and customer satisfaction

• Customer service

• Data

• Distributor

• Estimate

What word best describes: Facts and figures

• Data

• Distributor

• Estimate

• Fact

What word best describes: A channel member who helps sell a business’s products; usually a wholesaler

• Distributor

• Estimate

• Fact

• Market segment

What word best describes: An approximation; an educated guess

• Estimate

• Fact

• Market segment

• Market share

What word best describes: One of the groups into which the total market is divided

• Market segment

• Market share

• Place

• Prediction

What word best describes: An organization’s portion of the total industry sales in a specific market

• Market share

• Place

• Prediction

• Price

What word best describes: Marketing element focusing on considerations in getting a selected product in the right place at the right time

• Place

• Prediction

• Price

• Product

What word best describes: A forecast made about the future; also known as a projection

• Prediction

• Price

• Product

• Projection

What word best describes: Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products

• Price

• Product

• Projection

• Promotion