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| Any paid form of non-personal presentation of ideas, images, goods, or services |
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| An advantage consumers receive from using a product |
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| The total amount of money spent on costs of materials, labor, taxes, etc., to manufacture economic goods and services |
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| The arrangement by which businesses or individuals can purchase now and pay later |
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| A deduction from the price of goods |
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| The money that a business spends |
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| A fact or characteristic of the product |
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| An objective or want that you plan to fulfill |
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The money received by resource owners and by producers for supplying goods
and services to consumers |
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| A philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying consumer wants and needs while achieving company goals |
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| The combination of the four elements of marketing—product, place, promotion, and price |
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| The message channels used by a seller to promote a good, service, or idea, e.g., radio, television, newspapers, magazines, Internet |
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Definition
The form of promotion that determines client needs and wants and
responds through planned, personalized communication that influences purchase decisions and enhances future business opportunities |
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Definition
Marketing element focusing on considerations in getting a selected product in
the right place at the right time |
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| Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products |
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| Monetary reward a business owner receives for taking the risk involved in investing in a business |
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| Marketing element referring to the various types of communications that marketers use to inform, persuade, or remind customers of their products |
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Definition
| A function of business designed to establish good relations between the business and the public |
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Definition
| Any non-personal presentation of ideas, goods, or services that is not paid for by the company or individual that benefits from or is harmed by it |
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| The degree of excellence of a good or service—how good it is |
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| Any item that is used to produce goods and services |
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Definition
| Promotional activities other than advertising, personal selling, and publicity that stimulate customer purchases |
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Definition
| Plans of action for achieving goals and objectives |
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| Specific actions that will be used to carry out strategies |
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Definition
| The amount of satisfaction a good or service will provide a customer |
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Definition
| A promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected |
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