| A | B |
|---|
| Marketing | The process of developing, promoting, pricing, selling, and distributing products to satisfy customer’s wants and needs. |
| Wants | Not a necessity, a desire. For example, a sports car versus an economical car. |
| Needs | necessity for living. For example, clothing, food, and shelter. |
| Target Market | The group of consumers a business desires to have as customers. |
| Consumer | The person who uses the product. |
| Customer | The person who purchases the product. |
| Goods | Tangible items that satisfy customer’s needs and wants. |
| Services | Intangible items that satisfy customer’s needs and wants. |
| Marketing Concept | A business approach that directs all marketing efforts towards satisfying customer’s wants and needs. |
| SWOT Analysis | The acronym for strengths, weaknesses, opportunities, and threats. A SWOT analysis reviews the potential for success or failure of a business or product. |
| DECA | An Association of Marketing Students. |
