Tangible items that have monetary value and satisfy ones needs and wants

intangible items that have monetary value that satisfies your needs and wants.

The idea that a business should strive to satisfy costumers' needs and wants while generating a profit for the business.

An added value in economic terms; an attribute of goods or services that makes them capable of satisfying consumers' wants and needs.

All people who share similar needs and wants and who have the ability to purchase a given product.

Consumers who purchase goods and services for personal use.

Also known as business-to-business (B2B), this includes all businesses that buy product for the use in their operations.

A companies percentage of the total share volumes generated by all companies that compete in a given market.

The group of people most likely to become customers, identified for a specific marketing program.

Information about the market, such as age, gender, income level, marital status, ethnic background, geographic residence, attitudes, lifestyle, and behavior.

The four basic marketing strategies called the four P's: Production, place, price, and promotion

Changing raw material or putting parts together to make them more useful

Having a product where customers can buy it

Having a product available at a certain time of year or a convenient time of day

The exchange of a product for money: allowing alternatives to cash such as credit, personal checks, debit cards, lay away, and gift cards.

Involves communication with the consumer.