Marketing Vocabulary

What is Marketing?

• Marketing is the process of promoting, selling, and distributing a product or service to attract and retain customers.
• Marketing is the process of financial management.

Who is a customer?

• An individual or business that purchases goods or services from a seller or supplier.
• Someone who manufactures products

What is a Marketing Plan?

• A Marketing Plan is a one-time promotional event organized by a company.
• A Marketing Plan is a comprehensive document that outlines a company's advertising and marketing efforts for a specific period.

What is a buyer?

• A buyer is a type of marketing strategy.
• A buyer is a person or entity that purchases goods or services.

What does it mean to purchase?

• To buy goods or services in exchange for money.
• To give away goods or services for free

What is a retail product?

• A retail product is a physical or digital item that is sold to consumers through various distribution channels.
• A retail product is a term used to describe the process of marketing products online.

What is a purchaser?

• A seller of goods or services
• An individual or organization that buys goods or services

What is cost?

• Cost is the number of items in a set.
• Cost is the amount of money required to purchase or produce a good or service.

What is hypothsis?

• A hypothesis is a random idea that cannot be tested.
• A hypothesis is a proposed explanation for a phenomenon or a scientific question that can be tested through experimentation or observation.

What is effort?

• Mental relaxation
• Exertion of physical or mental energy towards achieving a goal or completing a task