Term
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Definition
| actually making goods or performing services |
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Term
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Definition
| the extent to which a firm fulfills a customer's needs, desires, and expectations |
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Term
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Definition
| the development and spread of new ideas, goods, and services |
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Definition
| the performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need satisfying goods and services from producer to consumer or client |
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Definition
| when each family unit produces everything it consumes |
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Term
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Definition
| a social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society |
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Term
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Definition
| as a company produces larger numbers of a particular product, the cost of each unit of the product goes down |
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Term
| universal functions of marketing |
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Definition
| buying, selling, transporting, storing, standardization and grading, financing, risk taking, and market information |
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Term
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Definition
| looking for and evaluating goods and services |
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Term
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Definition
| promoting the product; includes the use of personal selling, advertising, customer service, and other direct and mass selling methods |
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Term
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Definition
| the movement of goods from one place to another |
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Definition
| holding goods until customers need them. |
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Term
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Definition
| sorting products according to size and quality |
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Term
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Definition
| provides the necessary cash and credit to produce, transport, store, promote, sell, and buy products |
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Term
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Definition
| bearing the uncertainties that are part of the marketing process |
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Term
| market information function |
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Definition
| the collection, analysis, and distribution of all the information needed to plan, carry out, and control marketing activites whether in the form's own neighborhood or in a market overseas |
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Term
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Definition
| someone who specializes in trade rather than production |
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Term
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Definition
| firms that facilitate or provide one of more of the marketing functions other than buying or selling (advertising agencies, market research firms, ISPs) |
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Term
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Definition
| the exchanges between individuals or organizations - and activities that facilitate these exchanges0based on applications of information technology |
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Term
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Definition
| the way an economy organizes to use scarce resources to produce goods and services and distribute them for consumption by the various people and groups in society. |
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Term
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Definition
| government officials decide what and how much is to be produced and distributed by whom, when, to whom, and why |
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Term
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Definition
| the individual decisions of the many producers and consumers make the macro-level decisions for the whle economy |
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Term
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Definition
| a time when families traded or sold their surplus output to local distributors |
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Term
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Definition
| a time when a company focuses on production of a few specific products |
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Term
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Definition
| a time when a company emphasizes selling because of increased competition. |
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Term
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Definition
| a time when all marketing activites are brought under the control of one department to improve short-run policy planning and to try to integrate the firm's activites |
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Term
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Definition
| an organization aims all its effots at satisfying its customers at a profit |
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Term
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Definition
| making whatever products are easy to produce and then trying to sell them |
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Term
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Definition
| trying to carry out the marketing concept. |
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Term
| ideas of marketing concept |
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Definition
| (1) customer satisfaction (2) total company effort (3) profit |
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Term
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Definition
| the difference between the benefits of a customer sees from a market offering and the costs of obtaining those benefits |
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Term
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Definition
| what is "good" for some firms and consumers may not be good for society as a whole |
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Term
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Definition
| a firm's obligation to improve its positive effects on society and reduce its negative effects. |
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Term
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Definition
| the moral standards that guide marketing decisions and actions |
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