| A | B |
|---|
| marketing functions | group of marketing activities |
| marketing concept | considering the needs of customers when planning, pricing, distribution, 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 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 its 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 through one or more middle firms between the producer and the consumer |
| promotion | the methods used to communicate information to customers in order to encourage purchases and to increase their satisfaction |
| retailer | a business firm that sells directly to the consumer |
| buying motives | the reasons for making a purchase |
| wholesaler | a middle firm that assists with distribution activities between businesses |
