Are companies that sell products in small quantities to consumers.

Are people who buy and use the finished products, such as apparel.

Are tangible, or real, items to touch that manufacturers physically make

Are intangible activities performed for people.

A market system in which businesses compete and consumers freely choose how to spend their money.

Is rivalry between two or more businesses to gain as much as the total market sales, or customer acceptance.

Quantities of a good or service that producers are willing and able to provide at a particular time at various prices.

The amount of a good or service that consumers are willing and able to buy at that time at various prices.

Industrial materials and manufacturing capabilities

Indicates the material comforts people have , based on the kinds and quality of goods and services they can afford.

Market structure where no single company in an industry is large or powerful enough to influence or control prices.

Pure competition Market Structure is also called

Is a market structure opposite to pure competition in which there re no direct competitors.

Is a market structure in which each of a few producers affects but does not control the market.

Which one is not a type of business ownership?

Owned by one owner by just one person, although they may have many employees.

Unincorporated businesses where two or more people share ownership and responsibility for operations.

Separate legal entities from their owners.

Owners of Corporations

Stockholders are also called...

Offer their stock to general public, usually on national exchanges.

Corporation that do not have stocks available for the public.

Have limited number of shareholders and may pay income taxes like sole proprietorship or partnership, rather than at corporate income tax rates.

Exist to provide a social service rather than to make a profit.

Is the total process of finding or creating a profitable market for specific goods or services.

Focusing on designing and manufacturing merchandise that was easy and economical to produce, without checking the preferences of consumers.

Specific segment of a total market that a company wants as customers, and toward whom it directs its marketing efforts.

Is a blend of features that satisfies a chosen market.

Focuses on determining customer desires before goods are manufactured.

What's another name for the Marketing Mix?

Which one is not a component of the Marketing Mix?

Is a major segment of marketing, and is the process through which products are obtained (designed, developed, or presented for resale)

Fluctuations in the level of economic activity over periods of several years.

Measures how consumers view the overall economy, as well as their personal finances.

During what stage in the business cycles the market of fashion products dries up, is not selling much.

Which one is the formula to calculate profit