Term
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Definition
| The creation and maintenance of satisfying exchange relationships. |
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Term
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Definition
| Using the needs of customers as the primary focus during planning, production, distriution, and promotion of a product or service. |
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Term
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Definition
| The prospective customers a business wants to service and the loation of those customers. |
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Term
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Definition
| Blending of the four marketing elements (production, distribution, price, and promotion) by the business. |
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Term
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Definition
| Anyting offered to a market by the business to satisgy needs, including physical products, services, and ideas. |
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Term
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Definition
| The locations and methods used to make the product avaliable to customers |
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Term
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Definition
| The actual amount customers pay and the methoss of increasing the value of the product to the customers. |
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Term
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Definition
| The methods and infromation communicated to customers to encourage purchases and increase their satisfaction. |
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Term
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Definition
| Characteristic of not relying on others for the things needed in order to survive. |
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Term
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Definition
| Exchanging products or services with others by agreeing to their values without using money. |
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Term
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Definition
| Concentrating on one or a few related activities so that they can be completed very well. |
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Term
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Definition
| Tool that established the use of currency as a recognized medium of exchange. |
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Term
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Definition
| Establishing and communicating the value of products and service to prospective customers. |
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Term
| Product/Service Management |
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Definition
| Marketing function that deals with assisting in the design and development of products and services that will meet the needs of prospective customers. |
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Term
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Definition
| Marketing functions that involves using direct, personal communications with prospective customers in order to assess needs and satisfy those needs with appropriate products and services. |
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Term
| Marketing-information Management |
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Definition
| Marketing function that involves obtaining, managing, and using market information to improve decision making and the performance of marketing activities. |
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Term
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Definition
| The marketing function that involves budgeting for marketing activities, obtaining the necessary financing, and providing financial assistance to customers to assist them with purchasing the organization's products and services. |
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Term
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Definition
| The marketing function that involves communicating information to prospective customers through advertising and other promotional methods to encourage them to purchase the organization's products and services. |
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Term
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Definition
| The business function that describes creating or obtaining products and services for sale. |
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Term
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Definition
| The business function that describes the ongoing activities designed to support the primary function of a business and to keep a business operating efficiently. |
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Term
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Definition
| The business function that describes planning and managing financial resources and maintining records and information related to businesses' finances. |
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Term
| Management and Administration |
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Definition
| The business function that involves developing, implementing, and evaluating the plans and activites of a business. |
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