Marketing Vocabulary

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

• Business

• Economics

• Marketing

• Finance

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

• Business

• Economics

• Marketing

• Finance

Tangible item produced and sold to consumers

• Good

• Idea

• Product

• Service

A formulated thought or opinion

• Good

• Idea

• Product

• Service

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

• Target market

• Market research

• Market share

• Market idea

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

• Target market

• Market research

• Market share

• Market idea

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

• Marketing

• Business

• Economic

• Idea

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

• Marketing concept

• Marketing function

• Marketing mix

• Marketing good

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

• Marketing concept

• Marketing function

• Marketing mix

• Marketing good

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

• Marketing concept

• Marketing function

• Marketing mix

• Marketing good