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| The rivalry between two or more businesses to attract scarce customer dollars |
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| A retail store competing on the basis of low prices and offering limited customer service |
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| The amount of money that the buyer is willing to pay and the seller is willing to accept for a good or service |
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| A customer or a potential customer who has an unfulfilled desire and is financially able and willing to satisfy that desire |
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| An organization’s portion of the total industry sales in a specific market |
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| An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relations in ways that benefit the organization and its stakeholders |
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| The combination of the four elements of marketing—product, place, promotion, and price |
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| The systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern |
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| The message channel used by a seller to promote a good, service, or idea, e.g., radio, television, newspapers, magazines |
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| Marketing element focusing on considerations in getting a selected product in the right place at the right time |
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| A marketing function that involves determining and adjusting prices to maximize return and meet customers’ perceptions of value |
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| Goals a company hopes to accomplish through its pricing strategies |
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| Marketing element referring to what goods, services, or ideas a business will offer its customers |
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| A ratio of net profit (after taxes) divided by net sales that reflects the profit per dollar of sales |
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| Marketing element referring to selection of the various types of communications that marketers use to inform, persuade, or remind customers of their products |
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| The amount of money a business plans to spend on promoting its goods and services during a certain period of time |
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