| A | B |
|---|
| marketing functions | Groups of marketing activities |
| marketing concept | Considering the needs of customers when planning, pricing, distributing, and promoting a product or service |
| marketing strategy | A two-step process for successfully planning and marketing products and services |
| target market | A clearly identified group of consumers with needs that the business wants to satisfy |
| marketing mix | A combination of marketing elements, sometimes referred to as the 4 P's of marketing, designed to meet the needs of a target market |
| channel of distribution | The path that a product travels from producer to consumer |
| product | Anything offered to the target market to satisfy their needs |
| direct channel of distribution | The process through which goods are bought by the consumer directly from the producer |
| place | The locations where products are sold and the ways they are made available to customers |
| price | What customers pay and the method of payment |
| indirect channel of distribution | The process through which goods move from producer to consumer through one or more intermediary |
| promotion | The methods used to communicate information to customers in order to encourage purchases and to increase their satisfaction |
| retailer | A business that sells directly to the consumer |
| buying motives | The reasons for making a purchase |
| wholesaler | An intermediary that assists with distribution activities between business |
| Communication | Able to listen, speak, and write effectively |
