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Definition
| An advantage consumers receive from using a product |
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| The movement of resources from resource owners to producers and from producers to consumers |
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| The system in which people make and spend their incomes |
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| People who assume the risks of starting and operating businesses |
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Definition
| The basic principles that govern your behavior |
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Definition
| A fact or characteristic of the product |
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Definition
| Tangible objects that can be manufactured or produced for resale |
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Definition
| Not capable of being detected through the senses |
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Definition
| Channel members operating between the producer and the consumer or industrial user to help in the movement of goods and services |
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Definition
| A type of producer that changes the shapes or forms of materials so that they will be useful to consumers |
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Definition
| Something required or essential that is lacking |
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| Information about a specific good or service that can be used in sales presentations |
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Definition
| The process of selling again |
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Definition
| A business that buys consumer goods or services and sells them to the ultimate consumer |
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Definition
| The sales procedure in which the salesperson shows the customer the benefits of the product’s features; includes the sales dialogue and product demonstration |
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Definition
| A marketing function that involves determining client needs and wants and responding through planned, personalized communication that influences purchase decisions and ensures satisfaction |
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Definition
| The ability to determine customers’ needs, wants, and buying motives; to open and close sales; to question customers; to handle customer objections; suggest additional or substitute items; demonstrate products; and follow up sales |
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Term
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Definition
| Intangible activities that are performed by other people for money; productive acts that satisfy economic wants |
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Definition
| Capable of being touched, smelled, tasted, seen, or heard |
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Definition
| The process or activity of using goods and services for personal use |
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Definition
| Usefulness; capable of satisfying wants and needs |
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Definition
| A desire for something that may or may not be required |
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Definition
| An intermediary who helps move goods between producers and retailers by buying goods from producers and selling them to retailers |
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